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iso4217:USD iso4217:DKK iso4217:DKK shares gmab:business_unit gmab:employee shares gmab:cash_generating_unit gmab:segment gmab:Vote gmab:candidate gmab:antibody_therapeutic gmab:license gmab:obligation gmab:investigational_medicine gmab:program gmab:patent gmab:lawsuit 20-F false true 2025-12-31 --12-31 false false 001-38976 Genmab A/S G7 Carl Jacobsens Vej 30 2500 Valby DK Anthony Pagano Carl Jacobsens Vej 30 2500 Valby DK +45 7020 2728 American Depositary Shares, each representing one-tenth of one ordinary share GMAB NASDAQ Ordinary shares, nominal value DKK 1 per share GMAB NASDAQ 64238408 64377450 Yes No Yes Yes Large Accelerated Filer false true false International Financial Reporting Standards false true <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">Safeguarding the confidentiality, integrity, and availability of systems, data and applications as well as protecting trade </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:617.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">secrets and data privacy is an essential pillar in ensuring the business continuity of Genmab, and complying with regulatory </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:629.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">requirements, and maintaining the trust of our patients, employees, shareholders, partners, and other stakeholders. Genmab </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:641.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">maintains a comprehensive cybersecurity program based on the National Institute of Standards and Technology’s NIST </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:653.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">800 Special Publication Information Security standard (“</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:286.02pt;position:var(--position);text-decoration:none;white-space:pre">NIST Standard</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:351.85pt;position:var(--position);text-decoration:none;white-space:pre">”) for managing cybersecurity activities, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:665.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">formulation of global objectives of the cybersecurity program and risk identification and mitigation activities. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:689.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s Information Security Department, led by the Global Head of Information Security and Digital Risk &amp; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:701.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Compliance Management, is responsible for administering and annually updating our enterprise-wide information security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:713.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">program. The program includes activities and projects in all six functions (govern, identify, protect, detect, respond, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:725.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">recover) of the NIST standard with the goal of further improving Genmab’s security profile and adapting, where needed, to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:737.7pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">changes in Genmab’s business strategy and threat environment. Input for the program comes from the annual attack and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:58.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">penetration test, periodic threat landscape and security maturity assessments, as well as requirements of applicable </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:70.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">cybersecurity regulations. The Information Security Department is also responsible for a number of global security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:82.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">processes and services that Genmab undertakes, such as the following: </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:106.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">proposing and administering information security policies and standards;</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:130.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">security awareness training (including the administration of a third-party phishing learning platform, conducting </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:142.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">periodic global security awareness events and preparing other learning materials);</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:166.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">security risk assessment of new and existing vendors, partners and other third parties with respect to whom a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:178.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">security risk assessment is deemed appropriate;</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:202.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">review of new contracts and assessment of the impact of new technologies on security;</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:226.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">defining mandatory security controls and assessing solution security architecture of new or changed systems or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:236.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">services;</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:258.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">security incident detection and management;</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:282.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:78.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:96.85pt;position:var(--position);text-decoration:none;white-space:pre">periodic operational security incident exercises, and vulnerability scanning. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:306.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">We work with consultants and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:200.55pt;position:var(--position);text-decoration:none;white-space:pre">other third-party</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:266.31pt;position:var(--position);text-decoration:none;white-space:pre"> advisors to perform security services and conduct security assessments </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:318.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">and independent audits of the security and resilience of our systems and networks. We have also established a cyber </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:330.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">response task force consisting of leaders from Finance, Legal, Compliance, Communications, and Data, Digital &amp; AI </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:342.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">(“</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:66.26pt;position:var(--position);text-decoration:none;white-space:pre">DD&amp;AI</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:100.14pt;position:var(--position);text-decoration:none;white-space:pre">”) departments.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:161.72pt;position:var(--position);text-decoration:none;white-space:pre"> The task force is responsible for cybersecurity crisis preparedness and the management of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:354.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">cybersecurity crisis situations. This task force regularly leads scenario exercises, which include engagement of all levels of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:366.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">management including members of Genmab’s Executive Committee, to assess Genmab’s resilience capabilities in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:378.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">event of a cybersecurity crisis.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:402.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">We have </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:114.22pt;position:var(--position);text-decoration:none;white-space:pre">integrated</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:154.15pt;position:var(--position);text-decoration:none;white-space:pre"> information security risk management into our overall risk management infrastructure through our </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:414.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">enterprise risk management program. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:210.26pt;position:var(--position);text-decoration:none;white-space:pre">The enterprise risk management program, which is overseen by our Global </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:426.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Compliance &amp; Risk Committee (“</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:194.98pt;position:var(--position);text-decoration:none;white-space:pre">GCRC</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:224.41pt;position:var(--position);text-decoration:none;white-space:pre">”), entails a formal process that seeks to identify, assess, mitigate and manage the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:438.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">risks from both internal and external conditions that could significantly impact the Company and influence our business </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:450.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">strategy and performance.</span></div> true true <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">We have </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:114.22pt;position:var(--position);text-decoration:none;white-space:pre">integrated</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:154.15pt;position:var(--position);text-decoration:none;white-space:pre"> information security risk management into our overall risk management infrastructure through our </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:414.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">enterprise risk management program. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:210.26pt;position:var(--position);text-decoration:none;white-space:pre">The enterprise risk management program, which is overseen by our Global </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:426.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Compliance &amp; Risk Committee (“</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:194.98pt;position:var(--position);text-decoration:none;white-space:pre">GCRC</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:224.41pt;position:var(--position);text-decoration:none;white-space:pre">”), entails a formal process that seeks to identify, assess, mitigate and manage the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:438.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">risks from both internal and external conditions that could significantly impact the Company and influence our business </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:450.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">strategy and performance.</span></div> true <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">The Global Head of Information Security and Digital Risk &amp; Compliance Management</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:425.81pt;position:var(--position);text-decoration:none;white-space:pre"> is responsible for information </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:510.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">security within Genmab and reports to the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:229.15pt;position:var(--position);text-decoration:none;white-space:pre">Global Head of DD&amp;AI</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:326.01pt;position:var(--position);text-decoration:none;white-space:pre">. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:331.01pt;position:var(--position);text-decoration:none;white-space:pre">Our current Global Head of Information Security and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:522.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">IT Risk &amp; Compliance Management has more than 15 years of experience in leading global information and cyber security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:534.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">departments and programs, and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:186.43pt;position:var(--position);text-decoration:none;white-space:pre">our current Global Head of DD&amp;AI has more than </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:390.96pt;position:var(--position);text-decoration:none;white-space:pre">20 years of experience in leading, </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">managing and transforming analytics and technology departments, in each case for large, global organizations</span>. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">The Global Head of Information Security and Digital Risk &amp; Compliance Management</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:425.81pt;position:var(--position);text-decoration:none;white-space:pre"> is responsible for information </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:510.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">security within Genmab and reports to the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:229.15pt;position:var(--position);text-decoration:none;white-space:pre">Global Head of DD&amp;AI</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:326.01pt;position:var(--position);text-decoration:none;white-space:pre">. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:331.01pt;position:var(--position);text-decoration:none;white-space:pre">Our current Global Head of Information Security and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:522.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">IT Risk &amp; Compliance Management has more than 15 years of experience in leading global information and cyber security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:534.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">departments and programs, and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:186.43pt;position:var(--position);text-decoration:none;white-space:pre">our current Global Head of DD&amp;AI has more than </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:390.96pt;position:var(--position);text-decoration:none;white-space:pre">20 years of experience in leading, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:546.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">managing and transforming analytics and technology departments, in each case for large, global organizations</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:498.24pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:570.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">The Global Head of Information Security and Digital Risk &amp; Compliance Management reports the status of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:582.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Genmab information security program, security threats, incidents, and risks quarterly to the GCRC, chaired by Genmab’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:594.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">CEO and the Senior Vice President, Head of Global Compliance and Risk, and in which members of our Executive </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:606.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Committee participate. The status of risk mitigation actions and newly identified risks are discussed during periodic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:618.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">meetings of the DD&amp;AI Risk Governance Board, consisting of members of the DD&amp;AI Leadership Team and chaired by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:630.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">the Global Head of DD&amp;AI. Results of security assessments and periodic cyber threat landscape assessments may also be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:642.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">integrated in strategic reports to Genmab’s relevant business leaders and the GCRC when appropriate.</span></div> true <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:331.01pt;position:var(--position);text-decoration:none;white-space:pre">Our current Global Head of Information Security and </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:522.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">IT Risk &amp; Compliance Management has more than 15 years of experience in leading global information and cyber security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:534.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">departments and programs, and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:186.43pt;position:var(--position);text-decoration:none;white-space:pre">our current Global Head of DD&amp;AI has more than </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:390.96pt;position:var(--position);text-decoration:none;white-space:pre">20 years of experience in leading, </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">managing and transforming analytics and technology departments, in each case for large, global organizations</span>. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">The Global Head of Information Security and Digital Risk &amp; Compliance Management reports the status of the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:582.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Genmab information security program, security threats, incidents, and risks quarterly to the GCRC, chaired by Genmab’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:594.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">CEO and the Senior Vice President, Head of Global Compliance and Risk, and in which members of our Executive </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:606.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Committee participate. The status of risk mitigation actions and newly identified risks are discussed during periodic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:618.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">meetings of the DD&amp;AI Risk Governance Board, consisting of members of the DD&amp;AI Leadership Team and chaired by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:630.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">the Global Head of DD&amp;AI. Results of security assessments and periodic cyber threat landscape assessments may also be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:642.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">integrated in strategic reports to Genmab’s relevant business leaders and the GCRC when appropriate.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">The Board of Directors oversees our approach to overall risk management.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:375.32pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:377.82pt;position:var(--position);text-decoration:none;white-space:pre">The board has delegated oversight of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">information security strategy and risks to the Audit and Finance Committee.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:76.5pt;position:var(--position);text-decoration:none;white-space:pre">The Board of Directors oversees our approach to overall risk management.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:375.32pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:377.82pt;position:var(--position);text-decoration:none;white-space:pre">The board has delegated oversight of </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:702.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">information security strategy and risks to the Audit and Finance Committee.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.87pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:365.37pt;position:var(--position);text-decoration:none;white-space:pre">The Audit and Finance Committee is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:714.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">responsible for reviewing Genmab’s information security strategy and program, including with respect to identification and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:726.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">management of cybersecurity risks and threats. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:249.1pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:267.13pt;position:var(--position);text-decoration:none;white-space:pre">Global Head of Information Security and Digital Risk &amp; Compliance </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:58.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Management</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:110.65pt;position:var(--position);text-decoration:none;white-space:pre"> presents an update on the status of the Genmab information security strategy and program, including strategic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:70.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">priorities, progress made in respect of those priorities and a review of cybersecurity incidents, risks, and threats to the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:530.73pt;position:var(--position);text-decoration:none;white-space:pre">Audit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:82.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">and Finance Committee</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:153.92000000000002pt;position:var(--position);text-decoration:none;white-space:pre"> at least annually.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:223.81pt;position:var(--position);text-decoration:none;white-space:pre"> A summary management report on the information security strategy, program, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:94.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">incidents, risks and threats is presented to the Board </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:268.82pt;position:var(--position);text-decoration:none;white-space:pre">of</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:277.15pt;position:var(--position);text-decoration:none;white-space:pre"> Directors periodically and is supplemented by discussions between </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:106.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">the Board of Directors and Audit and Finance Committee.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:365.37pt;position:var(--position);text-decoration:none;white-space:pre">The Audit and Finance Committee is </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:714.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">responsible for reviewing Genmab’s information security strategy and program, including with respect to identification and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:726.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">management of cybersecurity risks and threats. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:249.1pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:267.13pt;position:var(--position);text-decoration:none;white-space:pre">Global Head of Information Security and Digital Risk &amp; Compliance </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:58.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">Management</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:110.65pt;position:var(--position);text-decoration:none;white-space:pre"> presents an update on the status of the Genmab information security strategy and program, including strategic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:70.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">priorities, progress made in respect of those priorities and a review of cybersecurity incidents, risks, and threats to the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:530.73pt;position:var(--position);text-decoration:none;white-space:pre">Audit </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:58.5pt;position:var(--position);text-decoration:none;white-space:pre">and Finance Committee</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:153.92000000000002pt;position:var(--position);text-decoration:none;white-space:pre"> at least annually.</span> true false 0001434265 2025 FY false 1 1 P1Y 3720000000 3121000000 2390000000 238000000 143000000 33000000 1606000000 1414000000 1107000000 626000000 549000000 478000000 185000000 43000000 0 2655000000 2149000000 1618000000 1065000000 972000000 772000000 408000000 645000000 299000000 269000000 291000000 254000000 1204000000 1326000000 817000000 241000000 193000000 186000000 963000000 1133000000 631000000 45000000 -224000000 139000000 1008000000 909000000 770000000 15.50 17.66 9.67 15.37 17.53 9.58 355000000 355000000 0 9123000000 1728000000 15000000 153000000 137000000 142000000 127000000 128000000 102000000 22000000 7000000 10000000 171000000 127000000 31000000 37000000 32000000 20000000 9988000000 2514000000 320000000 40000000 14000000 0 18000000 9000000 8000000 1112000000 923000000 733000000 0 1574000000 1967000000 1715000000 1380000000 2204000000 2885000000 3900000000 4912000000 12873000000 6414000000 5232000000 10000000 10000000 10000000 1920000000 1961000000 1942000000 -181000000 -226000000 -2000000 4098000000 3392000000 2737000000 5847000000 5137000000 4687000000 5001000000 0 0 134000000 131000000 101000000 95000000 67000000 71000000 364000000 330000000 0 5000000 5000000 5000000 5599000000 533000000 177000000 273000000 0 0 43000000 239000000 8000000 18000000 13000000 13000000 24000000 3000000 5000000 1069000000 489000000 342000000 1427000000 744000000 368000000 7026000000 1277000000 545000000 12873000000 6414000000 5232000000 1204000000 1326000000 817000000 408000000 645000000 299000000 269000000 291000000 254000000 128000000 105000000 85000000 55000000 49000000 40000000 16000000 11000000 3000000 32000000 17000000 0 -166000000 -230000000 116000000 -9000000 -1000000 -8000000 400000000 122000000 90000000 1521000000 1045000000 1098000000 135000000 136000000 131000000 -5000000 -5000000 -3000000 5000000 0 0 -460000000 -50000000 -155000000 1186000000 1126000000 1071000000 0 1783000000 0 7215000000 0 0 18000000 17000000 1000000 37000000 27000000 53000000 991000000 1248000000 1578000000 2622000000 1636000000 1451000000 4000000 8000000 4000000 -5643000000 -1447000000 -185000000 23000000 19000000 21000000 13000000 9000000 14000000 430000000 560000000 81000000 18000000 16000000 15000000 5500000000 0 0 273000000 0 0 4789000000 -566000000 -89000000 332000000 -887000000 797000000 1380000000 2204000000 1419000000 3000000 63000000 -12000000 1715000000 1380000000 2204000000 1715000000 1369000000 2004000000 0 11000000 200000000 1715000000 1380000000 2204000000 10000000 1921000000 -141000000 2125000000 3915000000 631000000 631000000 139000000 139000000 139000000 631000000 770000000 21000000 21000000 81000000 81000000 85000000 85000000 15000000 15000000 8000000 8000000 10000000 1942000000 -2000000 2737000000 4687000000 1133000000 1133000000 -224000000 -224000000 -224000000 1133000000 909000000 19000000 19000000 560000000 560000000 105000000 105000000 16000000 16000000 7000000 7000000 10000000 1961000000 -226000000 3392000000 5137000000 963000000 963000000 45000000 45000000 45000000 963000000 1008000000 23000000 23000000 430000000 430000000 124000000 124000000 18000000 18000000 64000000 -64000000 0 -3000000 -3000000 10000000 1920000000 -181000000 4098000000 5847000000 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Section 1 - Basis of Presentation</span><div style="font-size:12pt;line-height:12pt;position:var(--position);top:146.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">These consolidated financial statements include </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:294.83000000000004pt;position:var(--position);text-decoration:none;white-space:pre">Genmab </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:343.5pt;position:var(--position);text-decoration:none;white-space:pre">A/S</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:362.83000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> (parent </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:160.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">company) and subsidiaries over which the parent company has control. </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:174.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The Genmab consolidated Group is referenced herein as “Genmab” or </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:188.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the “Company.”</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:207.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">This section describes Genmab’s general accounting policies including Management’s judgements and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">estimates under IFRS Accounting Standards as issued by the International Accounting Standards Board </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">(IASB) and endorsed by the EU (IFRS Accounting Standards). The specific accounting policies are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:240.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">described in each note in conjunction with supplementary disclosures of the specific item with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:251.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">aim to provide a more understandable description of each accounting area.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">(In all accompanying tables, amounts of dollars are expressed in millions, except per share amounts, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">unless otherwise noted).</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.1 - Nature of the Business and Accounting Policies</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab A/S is a publicly traded, international biotechnology company that was founded in 1999 and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:330.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">specializes in the creation and development of differentiated antibody therapeutics for the treatment </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:341.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of cancer and other diseases. Genmab has</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:189.6pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:191.82pt;position:var(--position);text-decoration:none;white-space:pre">seven</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:213.14pt;position:var(--position);text-decoration:none;white-space:pre"> approved products commercialized by third parties, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:398.27000000000004pt;position:var(--position);text-decoration:none;white-space:pre">two</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:410.70000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:352.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">approved products that are jointly commercialized with a collaboration partner, a broad clinical </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:363.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and preclinical product pipeline and proprietary next-generation antibody technologies.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:382.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The consolidated financial statements have been prepared in accordance with IFRS Accounting Standards </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:393.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">as issued by the International Accounting Standards Board (IASB) and in accordance with IFRS </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Standards as endorsed by the EU and further disclosure requirements for listed companies in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:415.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Denmark. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.56pt;position:var(--position);text-decoration:none;white-space:pre">The consolidated financial statements were approved by the Board of Directors and authorized </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">for issue on</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:78.14pt;position:var(--position);text-decoration:none;white-space:pre"> February 17, 2026</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:145.62pt;position:var(--position);text-decoration:none;white-space:pre">.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:147.84pt;position:var(--position);text-decoration:none;white-space:pre"> Except as outlined in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:225.98pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_697" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:243.73pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:245.95pt;position:var(--position);text-decoration:none;white-space:pre">1.2</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:257.05pt;position:var(--position);text-decoration:none;white-space:pre">, the consolidated financial statements have </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:437.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">been prepared using the same accounting policies as </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:227.76pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:245.51999999999998pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Please refer to the </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:104.33000000000001pt;position:var(--position);text-decoration:none;white-space:pre">overview</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:138.52pt;position:var(--position);text-decoration:none;white-space:pre"> below to see in which note/section the detailed accounting policy is included.</span></div><div style="position:var(--position);top:107.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:378pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Section 2 - Result for the Year</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.1 - Revenue</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:24pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.2 - Information about Geographical Areas</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:36pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.3 - Staff Costs</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:48pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.4 - Corporate and Deferred Tax</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:60pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.5 - Profit Per Share</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:84.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Section 3 - Operating Assets and Liabilities</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.1 - Other Intangible Assets and Goodwill</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.2 - Property and Equipment</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:120.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.3 - Leases</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:132.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.4 - Other Investments</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:144.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.5 - Inventories</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:156.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.6 - Receivables</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:168.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.7 - Contract Liabilities</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:180.75pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.8 - Other Payables</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:205.5pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Section 4 - Capital Structure, Financial Risk and Related Items</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:217.5pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.3 - Financial Assets and Liabilities</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:229.5pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.4 - Marketable Securities</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:241.5pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.5 - Financial Income and Expenses</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:253.5pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.6 - Share-Based Instruments</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:265.5pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.8 - Borrowings</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:290.25pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Section 5 - Other Disclosures</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:302.25pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:378pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">5.5 -  Acquisitions</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:434.97pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Materiality</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:447.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s Annual Report is based on the concept of materiality and the Company focuses on </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:758.14pt;position:var(--position);text-decoration:none;white-space:pre">information </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">that is considered material and relevant to the users of the consolidated financial statements. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">consolidated financial statements consist of a large number of transactions. These transactions are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:480.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">aggregated into classes according to their nature or function and presented in classes of similar items in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:491.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the consolidated financial statements as required by IFRS and the Danish Financial Statements Act. If </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:502.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">items are individually immaterial, they are aggregated with other items of similar nature in the consolidated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:513.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">financial statements or in the notes.</span></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab provides these specific required disclosures unless the information is considered immaterial to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">economic decision-making of the readers of the consolidated financial statements or not applicable.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:137.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Financial Statements</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:150.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The consolidated financial statements include Genmab A/S and subsidiaries over which the parent </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:161.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">company has control. The parent controls a subsidiary when the parent is exposed to, or has rights </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:172.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to, variable returns from its involvement with the subsidiary and has the ability to affect those returns </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:183.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">through its power to direct the activities of the subsidiary. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:239.14pt;position:var(--position);text-decoration:none;white-space:pre">Genmab A/S (parent company) holds </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments either directly or indirectly in the following subsidiaries:</span></div><div style="position:var(--position);top:213.32pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:377.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:159.75pt"></td><td style="padding:0;width:117pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:32.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:159.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Name</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);width:117pt"><div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Domicile</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:5.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.89pt;position:var(--position);text-decoration:none;white-space:pre">Ownership </span></div><div style="line-height:7.5pt;position:var(--position);top:14.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.63pt;position:var(--position);text-decoration:none;white-space:pre">and votes</span></div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:5.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.89pt;position:var(--position);text-decoration:none;white-space:pre">Ownership </span></div><div style="line-height:7.5pt;position:var(--position);top:14.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.63pt;position:var(--position);text-decoration:none;white-space:pre">and votes</span></div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab B.V.</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:32.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:45pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Holding B.V.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:45pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:45pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:45pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:57.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Holding II B.V.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:57.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:57.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:57.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab US, Inc.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:70.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:70.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:70.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab K.K.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:83.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tokyo, Japan</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:83.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:83.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Germany GmbH</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:96pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Munich, Germany</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:96pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:96pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab UK Ltd</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:108.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">London, United Kingdom</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:108.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:108.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:121.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab France SAS</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:121.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Paris, France</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:121.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:121.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Finance LLC.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:134.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:147pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio Inc.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:147pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:147pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:147pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:159.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio US Co.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:159.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:159.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:159.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:172.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio Limited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:172.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Hong Kong, China</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:172.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:172.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:185.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab (Suzhou) Co., Ltd.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:185.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Suzhou, China</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:185.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:185.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:198pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab (Beijing) Co., Ltd.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:198pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Beijing, China</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:198pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:198pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Merus B.V.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:210.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:210.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:210.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A¹</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:223.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Merus US Inc.</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:223.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Massachusetts, USA</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:223.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:223.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A¹</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:462.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">These subsidiaries were added as a result of the acquisition of Merus during the fourth quarter of 2025.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:471.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">These subsidiaries were created during 2025.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s consolidated financial statements have been prepared on the basis of the financial statements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">of the parent company and subsidiaries – prepared under Genmab’s accounting policies – by combining </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">similar accounting items on a line-by-line basis. On consolidation, intercompany income and expenses, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">intercompany receivables and payables, and unrealized gains and losses on transactions between the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">consolidated companies are eliminated.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The recorded value of the equity interests in the consolidated subsidiaries is eliminated with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">proportionate share of the subsidiaries’ equity. Subsidiaries are consolidated from the date when control is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">transferred to the Group.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Items included in the financial statements of Genmab's entities are measured using the currency of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">primary economic environment in which the entity operates (functional currency).The income statements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">for subsidiaries with a different functional currency than Genmab’s presentation currency are translated into </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:244.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s presentation currency at average exchange rates, and the balance sheets are translated at the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:255.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">exchange rate in effect at the balance sheet date.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:274.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Exchange rate differences arising from the translation of foreign subsidiaries shareholders’ equity at the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:285.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">beginning of the year and exchange rate differences arising as a result of foreign subsidiaries’ income </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">statements being translated at average exchange rates are recorded in translation reserves in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">shareholders’ equity.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:326.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Functional and Presentation Currency Change</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Management has determined it is appropriate to change both the functional currency of the Genmab A/S </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:350.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">legal entity and the presentation currency of the consolidated financial statements from DKK to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:361.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">USD effective January 1, 2025. The change in functional currency was triggered by the expansion of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:372.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">commercia</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:465.68pt;position:var(--position);text-decoration:none;white-space:pre">lization </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:492.75pt;position:var(--position);text-decoration:none;white-space:pre">of EPKINLY and was made to reflect that USD has become the predominant currency of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:383.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the Genmab A/S legal entity. The change has been implemented with prospective effect. The change in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">presentation currency is applied retrospectively and was made to better reflect the Company’s financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:405.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">position. Comparative figures for prior periods have been restated accordingly.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The consolidated statements of comprehensive income and the consolidated statements of cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">have been translated into the presentation currency using the average exchange rates prevailing during </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:446.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">each reporting period. In the consolidated balance sheets, all assets and liabilities have been translated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:457.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">using the period-end exchange rates, and all resulting exchange differences have been recognized in other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">comprehensive income for the relevant year and accumulated in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:655.7pt;position:var(--position);text-decoration:none;white-space:pre">translation reserves in equity.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:758.99pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:479.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Shareholders’ equity balances have been translated using historical rates in effect on the date of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:490.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">transactions.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:471.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The DKK/USD exchange rates used to reflect the change in presentation currency were as follows:</span></div><div style="position:var(--position);top:126.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2020</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2021</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2022</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Average rate</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1530</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">NA</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1415</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1451</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Closing rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1524</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1434</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1483</span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:174.97pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:126.75pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q1 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q2 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q3 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q4 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Average rate</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1456</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1443</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1472</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1433</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1452</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Closing rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1450</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1435</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1502</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1400</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1400</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:223.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:304.54pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:374.69pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:234.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">consolidated balance sheet:</span></div><div style="position:var(--position);top:253.22pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total assets</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.54pt;position:var(--position);text-decoration:none;white-space:pre">45,811</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(39,397)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">6,414</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.98pt;position:var(--position);text-decoration:none;white-space:pre">9,114</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.07pt;position:var(--position);text-decoration:none;white-space:pre">(7,837)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,277</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total shareholders' equity</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">36,697</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(31,560)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">5,137</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:342.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the January 1, 2024 consolidated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">balance sheets:</span></div><div style="position:var(--position);top:372.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.53pt;position:var(--position);text-decoration:none;white-space:pre">January 1, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.53pt;position:var(--position);text-decoration:none;white-space:pre">January 1, 2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total assets</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">35,289</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(30,057)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">5,232</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,679</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.07pt;position:var(--position);text-decoration:none;white-space:pre">(3,134)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">545</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total shareholders' equity</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">31,610</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(26,923)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">4,687</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:462.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:473.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of comprehensive income:</span></div><div style="position:var(--position);top:107.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,844<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,711)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Comprehensive income</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,274<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(7,365)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">909<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.76pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of comprehensive income:</span></div><div style="position:var(--position);top:215.22pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">4,352<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,721)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Comprehensive income</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">4,314<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,544)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">770<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:303.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.76pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of cash flows:</span></div><div style="position:var(--position);top:322.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Cash provided by (used in):</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Operating activities</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,771<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,645)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,126<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Investing activities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(9,907)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,460<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,447)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financing activities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,919)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,353<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(566)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:412.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:423.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.76pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of cash flows:</span></div><div style="position:var(--position);top:442.22pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Cash provided by (used in):</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:8.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Operating activities</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,380<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,309)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,071<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:8.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Investing activities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,282)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,097<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(185)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:8.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financing activities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(606)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">517<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(89)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre"> basic and diluted earnings per share:</span></div><div style="position:var(--position);top:137.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - basic</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">122.21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(104.55)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">17.66<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - diluted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">121.36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(103.83)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">17.53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:215.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:368.48pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:226.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">31, 2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:67.93pt;position:var(--position);text-decoration:none;white-space:pre"> basic and diluted earnings per share:</span></div><div style="position:var(--position);top:245.22pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - basic</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">66.64<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(56.97)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.42pt"></span></span><span style="left:53.050000000000004pt;position:var(--position)">9.67<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - diluted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">66.02<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(56.44)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.42pt"></span></span><span style="left:53.050000000000004pt;position:var(--position)">9.58<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:322.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Currency</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Transactions in foreign currencies are translated at the exchange rates in effect at the date of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:346.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">transaction.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Except for foreign currency differences related to tax balances, e</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:264.92pt;position:var(--position);text-decoration:none;white-space:pre">xchange rate gains and losses arising </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">between the transaction date and the settlement date are recognized in the Consolidated Statements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of Comprehensive Income as financial income or expense</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:241.97pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Unsettled monetary assets and liabilities in foreign currencies are translated at the exchange rates in effect </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">at the balance sheet date. Exchange rate gains and losses arising between the transaction date and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:428.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">balance sheet date are recognized in the Consolidated Statements of Comprehensive Income as financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:439.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income or expense.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Classification of Costs and Operating Expenses in the Income Statement</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:120.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cost of Product Sales </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cost of product sales includes direct and indirect costs relating to the manufacturing of inventory mainly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">from third-party providers of manufacturing as well as costs related to internal resources and distribution </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">and logistics. Inventory amounts written down as a result of excess or obsolescence are charged to cost of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">product sales. Also included in cost of product sales are royalty payments on commercialized products. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:183.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Additionally, cost of product sales includes profit-sharing amounts owed to collaboration partners </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">for the sale of commercial products when Genmab is determined to be the principal in sales to end </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">customers. The only profit-sharing amounts owed to collaboration partners that are recorded as cost of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">product sales relate to sales of EPKINLY in the US and Japan pursuant to the Collaboration Agreement </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">with AbbVie.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:246.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Aside from these items, there are no other costs included within cost of product sales.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:265.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.24pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.21000000000004pt;position:var(--position);text-decoration:none;white-space:pre">5.6</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.31pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1"> in the Annual Report for detailed information regarding Genmab’s Collaboration </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:275.32pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Agreement with AbbVie.</a></span></div></div><div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Research and Development Expenses</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:119.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses primarily include salaries, benefits and other employee-related costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of Genmab’s research and development staff, license costs, manufacturing costs, preclinical costs, clinical </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">trials, contractors and outside service fees, amortization and impairment of licenses and rights related to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">intangible assets, depreciation of property and equipment, and depreciation of right-of-use assets, to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">extent that such costs are related to the Group’s research and development activities.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:182.12pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1"> for a more detailed description on the treatment of Genmab’s research and development </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:191.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1">expenses</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:71.05000000000001pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:209.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Selling, General and Administrative Expenses</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:220.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses relate to the management and administration of Genmab, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:231.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">including commercialization activities. This primarily includes salaries, benefits and other employee costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:242.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">related to management and support functions including human resources, information technology and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">finance departments. In addition, depreciation of property and equipment and depreciation of right-of-use </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:264.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">assets, to the extent such expenses are related to administrative functions, are also included. Selling, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:275.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">general and administrative expenses are recognized in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:286.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Income in the period to which they relate.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:305.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition and Integration Related Charges</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition and integration related charges for the acquisitions of Merus N.V. ("Merus") and ProfoundBio </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">which occurred during the fourth quarter of 2025 and second quarter of 2024, respectively.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.12pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.5</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1"> for more information regarding Genmab’s Acquisition and Integration costs related to the </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:356.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">acquisition of Merus and ProfoundBio.</a></span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:374.32pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Government G</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:109.69999999999999pt;position:var(--position);text-decoration:none;white-space:pre">rants</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Government grants are recognized at their fair value where there is reasonable assurance that the grant </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:397.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">will be received and that Genmab will comply with all attaching conditions. When the grant relates to an </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:408.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expense item, it is recognized as a reduction of that expense on a systematic basis over the periods that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:419.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the costs for which it is intended to compensate are incurred. Where the grant relates to an asset, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">fair value is credited to a contract liability account and is released to the statement of comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:441.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income as other operating income over the expected useful life of the relevant asset by equal annual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">installments.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:471.92pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Statements of Cash Flows</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The cash flow statement is presented using the indirect method with basis in the net profit before tax.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:503.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Cash flows from operating activities are stated as the net profit before tax adjusted for financial income and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:514.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expense, non-cash operating items including depreciation, amortization, impairment losses, share-based </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:525.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">compensation expenses, and for changes in operating assets and liabilities, interest paid and received, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:536.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">interest elements of lease payments and corporate taxes paid or received. Operating assets and liabilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:547.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are mainly comprised of changes in receivables, inventories and other payables excluding the items </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">included in cash and cash equivalents. Changes in non-current assets and liabilities are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">operating assets and liabilities, if related to the main revenue-producing activities of Genmab.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cash flows from investing activities consist of acquisitions of businesses, net of cash acquired, purchases </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">and sales of marketable securities and other investments, as well as purchases of intangible assets and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">property and equipment.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:178.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cash flows from financing activities relate to the purchase of treasury shares, exercise of warrants, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:189.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">payments of withholding taxes on behalf of employees on net settled RSUs and repayments of borrowings </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:200.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">including installments on loans, notes and lease liabilities. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:219.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents are comprised of cash, bank deposits, and marketable securities with a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:230.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">maturity of less than 90 days on the date of acquisition.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The statements of cash flows cannot be derived solely from the consolidated financial statements.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:268.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Treasury Shares</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The total amount paid to acquire treasury shares including directly attributable costs and the proceeds from </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the sale of treasury shares is recognized in retained earnings.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:311.32pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Collaborations, License Agreements and Collaborative Agreements </span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:323.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Collaborations and License Agreements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Genmab continues to pursue the establishment of research collaborations and licensing agreements. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:346.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">These arrangements often include upfront payments, expense reimbursements or payments to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:357.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">collaboration partner, and milestone and royalty arrangements, contingent upon the occurrence of certain </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:368.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">future events linked to the success of the asset in development. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">In regard to Genmab’s license agreements with J&amp;J, Novartis and Roche, each of these parties retain </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:398.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">final decision-making authority over the relevant activities and as such no joint control exists. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.32pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.24pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.21000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.31pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information related to revenue from these parties.</a></span></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Collaborative Agreements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:119.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has entered into a number of joint collaborative agreements. These agreements often include </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">upfront payments, expense reimbursements or payments to the collaboration partner, and milestone and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">royalty arrangements, contingent upon the occurrence of certain future events linked to the success of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">asset in development. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:171.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">These agreements also provide Genmab with varying rights to develop, produce and market products </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:182.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">together with its collaborative partners. Both parties in these arrangements share in the decision-making </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:193.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and therefore have joint control of the arrangement. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:221.07999999999998pt;position:var(--position);text-decoration:none;white-space:pre">In 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:247.72pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab’s more significant collaboration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:204.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">agreements are with AbbVie (epcoritamab) and Pfizer (tisotumab vedotin).</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:223.12pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information related to revenue from our joint collaborative agreements.</a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:240.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.6</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1"> for detailed information regarding Genmab’s significant Research Collaborations, </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:250.32pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">License Agreements and Collaborative Agreements.</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:220.66pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.2 - New Accounting Policies and Disclosures</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:286.92pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">New Accounting Policies </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:164.47pt;position:var(--position);text-decoration:none;white-space:pre">a</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:170.29999999999998pt;position:var(--position);text-decoration:none;white-space:pre">n</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:176.71pt;position:var(--position);text-decoration:none;white-space:pre">d Disclosures For </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:268.2pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:299.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has, with effect from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:143.27pt;position:var(--position);text-decoration:none;white-space:pre">January</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:171.69pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:173.91pt;position:var(--position);text-decoration:none;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:178.35pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:182.79pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:200.54999999999998pt;position:var(--position);text-decoration:none;white-space:pre">, implemented the following amendment:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:337.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The implementation of this amendment did not have a material impact on the consolidated financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:348.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">statements for the current or prior reporting periods and is not expected to have a significant impact </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:359.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in future reporting periods.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:378.52pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">New Accounting Policies</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:161.56pt;position:var(--position);text-decoration:none;white-space:pre"> and</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:183.12pt;position:var(--position);text-decoration:none;white-space:pre"> Disclosures Effective</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:292.09000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> in</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:304.32000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> 2026 </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:333.46000000000004pt;position:var(--position);text-decoration:none;white-space:pre">or</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:343.95000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:346.86pt;position:var(--position);text-decoration:none;white-space:pre">Later</span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">Furthermore, as it relates to new or amended accounting standards and interpretations (IFRSs) not yet </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">effective, but issued by the IASB, Management does not anticipate any significant impact on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:90.55pt;position:var(--position);text-decoration:none;white-space:pre"> Financial Statements in the period of initial application from the adoption of these </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:438.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">new standards and amendments, apart from IFRS 18 ‘Presentation and Disclosure in Financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:449.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">Statements’ which replaces IAS 1 effective from 1 January 2027. Management is assessing the impact </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:460.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">of the standard on its financial statements, and the impact has not yet been determined. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">IFRS 18 introduces the following :</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:126.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.60999999999996pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">Changes the presentation of the financial statements, requiring items of income and expense to be </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">classified into five categories: operating, investing, finance, income taxes and discontinued operations </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">along with two new mandatory sub-totals, operating profit or loss and profit or loss before financing and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">income taxes. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.60999999999996pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">Requires companies to disclose definitions of company-specific management-defined performance </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">measures (MPMs) that are related to the statement of income and provide reconciliations between the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">MPMs and the most similar specified subtotals within the statement of income in a single note.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.60999999999996pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">Provides enhanced guidance on the principles of how items should be aggregated or disaggregated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">based on shared characteristics. The changes are expected to provide more detailed and useful </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">information to investors and impacts all primary financial statements and notes.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">1.3 - Management’s Judgements and Estimates under IFRS</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">In preparing financial statements under IFRS, certain provisions in the standards require Management’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">judgements, including various accounting estimates and assumptions. These judgements and estimates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:293.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">affect the application of accounting policies, as well as reported amounts within the consolidated financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:304.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">statements and disclosures.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Determining the carrying amount of certain assets and liabilities requires judgements, estimates and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">assumptions concerning future events that are based on historical experience and other factors, which by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">their very nature are associated with uncertainty and unpredictability.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:364.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Accounting estimates are based on historical experience and various other factors relative to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:375.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">circumstances in which they are applied. Estimates are generally made based on information available </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">at the time. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:405.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Accounting judgements are made in the process of applying accounting policies. These judgements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">are typically made based on the guidance and information available at the time of application. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">These estimates and judgements may prove incomplete or incorrect, and unexpected events or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:446.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">circumstances may arise. Genmab is also subject to risks and uncertainties which may lead actual results </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:457.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">to differ from these estimates, both positively and negatively. Specific risks for Genmab are discussed in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the relevant section of this Annual Report and in the notes to the consolidated financial statements.</span></div><div style="position:var(--position);top:107.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:233.25pt"></td><td style="padding:0;width:39.75pt"></td><td style="padding:0;width:39.75pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">policy</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);width:233.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Key accounting estimates and judgements</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);width:39.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Note </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">reference</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);width:39.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Risk</span></div></div></div></td></tr><tr style="height:57pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value and </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">assessment of </span></div><div style="line-height:8pt;position:var(--position);top:29.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">other intangible </span></div><div style="line-height:8pt;position:var(--position);top:38.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">assets and </span></div><div style="line-height:8pt;position:var(--position);top:47.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:20.25pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation of the fair value of other intangible assets acquired </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">through acquisitions</span></div><div style="line-height:8pt;position:var(--position);top:24.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Subsequent assessment of impairment of other intangible assets</span></div><div style="line-height:8pt;position:var(--position);top:37.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation regarding the valuation of goodwill and assessment of </span></div><div style="line-height:8pt;position:var(--position);top:46.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment of goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:20.25pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Notes </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:26.32pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:37.06pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:11.88pt;width:39.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">and</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:15.59pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.69pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">5.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:20.25pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">High</span></div></div></div></td></tr><tr style="height:78pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">recognition</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:77.25pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement in assessing whether a collaboration </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">partner is a customer</span></div><div style="line-height:8pt;position:var(--position);top:24.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation of partner net sales amounts in the </span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">calculation of royalties</span></div><div style="line-height:8pt;position:var(--position);top:46.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation of variable consideration</span></div><div style="line-height:8pt;position:var(--position);top:59.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement in assessing the nature of combined performance </span></div><div style="line-height:8pt;position:var(--position);top:68.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">obligations within contracts </span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:77.25pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:77.25pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">High</span></div></div></div></td></tr><tr style="height:42.75pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:155.25pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">compensation</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:155.25pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement in selecting assumptions required for valuation of </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">warrant grants</span></div><div style="line-height:8pt;position:var(--position);top:24.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation in developing forfeiture rate RSUs/warrants and </span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">probability of achievement for PSUs</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:155.25pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.6</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:155.25pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Moderate</span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:198pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current and </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deferred income </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">taxes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:198pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement and estimation regarding valuation of deferred </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">income tax assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:198pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:198pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Moderate</span></div></div></div></td></tr></tbody></table></div></div></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.4 - Reclassifications of Prior Period Financial Statements</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:367.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In order to conform to the current period gross presentation for 2025, a reclassification</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:340.95000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> of net, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:367.59000000000003pt;position:var(--position);text-decoration:none;white-space:pre">$100 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:410.19pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:378.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">gain and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:69.7pt;position:var(--position);text-decoration:none;white-space:pre">$63 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107.86000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> loss have </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:146.05pt;position:var(--position);text-decoration:none;white-space:pre">been made to the gross amounts presented for 2024 a</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:338.75pt;position:var(--position);text-decoration:none;white-space:pre">nd 2023, to move </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:389.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">foreign exchange rate gains and losses related to marketable securities from gains and losses on foreign </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:400.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">exchange rates to gains and losses on marketable securities. These reclassifications have no impact on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:411.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the net amounts of financial items as presented in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:214.88pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1657" style="color:inherit;text-decoration:inherit;z-index:1">Note 4.5 - Financial Income and Expenses</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:373.79pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="position:var(--position);top:107.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.03pt;position:var(--position);text-decoration:none;white-space:pre">Reclass</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial income:</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">184<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">237<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate gain</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">431<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(173)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">258<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial income</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">505<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(4)</span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">501<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial expenses:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(23)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(84)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(107)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:120pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(239)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">73<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(166)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:132pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:144pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial expenses</span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(277)</span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(273)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:156pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net financial items</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">228<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">228<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:288.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.03pt;position:var(--position);text-decoration:none;white-space:pre">Reclass</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial income:</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">72<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">85<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">157<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate gain</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">57<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(57)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(10)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial income</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">157<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial expenses:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(26)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(148)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(174)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:120pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(186)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">120<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(66)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:132pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(4)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:144pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial expenses</span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(226)</span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(18)</span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(244)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:156pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net financial items</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(87)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(87)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.72pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1657" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.24pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1657" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.21000000000004pt;position:var(--position);text-decoration:none;white-space:pre">4.5</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.31pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1657" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information relating to financial income and expenses of the Group</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:773.3pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1217" style="color:inherit;text-decoration:inherit;z-index:1">.</a></span></div> 7 2 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:239.14pt;position:var(--position);text-decoration:none;white-space:pre">Genmab A/S (parent company) holds </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments either directly or indirectly in the following subsidiaries:</span></div><div style="position:var(--position);top:213.32pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:377.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:159.75pt"></td><td style="padding:0;width:117pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:32.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:159.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Name</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);width:117pt"><div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Domicile</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:5.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.89pt;position:var(--position);text-decoration:none;white-space:pre">Ownership </span></div><div style="line-height:7.5pt;position:var(--position);top:14.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.63pt;position:var(--position);text-decoration:none;white-space:pre">and votes</span></div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:5.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.89pt;position:var(--position);text-decoration:none;white-space:pre">Ownership </span></div><div style="line-height:7.5pt;position:var(--position);top:14.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.63pt;position:var(--position);text-decoration:none;white-space:pre">and votes</span></div><div style="line-height:7.5pt;position:var(--position);top:23.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab B.V.</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:32.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:45pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Holding B.V.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:45pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:45pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:45pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:57.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Holding II B.V.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:57.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:57.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:57.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab US, Inc.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:70.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:70.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:70.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab K.K.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:83.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tokyo, Japan</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:83.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:83.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Germany GmbH</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:96pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Munich, Germany</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:96pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:96pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab UK Ltd</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:108.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">London, United Kingdom</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:108.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:108.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:121.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab France SAS</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:121.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Paris, France</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:121.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:121.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab Finance LLC.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:134.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A²</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:147pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio Inc.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:147pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:147pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:147pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:159.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio US Co.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:159.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Delaware, USA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:159.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:159.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:172.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio Limited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:172.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Hong Kong, China</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:172.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:172.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:185.25pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab (Suzhou) Co., Ltd.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:185.25pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Suzhou, China</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:185.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:185.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:198pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Genmab (Beijing) Co., Ltd.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:198pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Beijing, China</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:198pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:198pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210.75pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Merus B.V.</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:210.75pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Utrecht, the Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:210.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:210.75pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A¹</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:223.5pt;width:159.75pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:159.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Merus US Inc.</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:159.75pt;position:var(--position);top:223.5pt;width:117pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:117pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Massachusetts, USA</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:223.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:26.41pt;position:var(--position)"></span><span style="left:26.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:42.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327pt;position:var(--position);top:223.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.64pt;position:var(--position);text-decoration:none;white-space:pre">N/A¹</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:462.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">These subsidiaries were added as a result of the acquisition of Merus during the fourth quarter of 2025.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:471.57pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">These subsidiaries were created during 2025.</span></div> 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Functional and Presentation Currency Change</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Management has determined it is appropriate to change both the functional currency of the Genmab A/S </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:350.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">legal entity and the presentation currency of the consolidated financial statements from DKK to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:361.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">USD effective January 1, 2025. The change in functional currency was triggered by the expansion of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:372.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">commercia</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:465.68pt;position:var(--position);text-decoration:none;white-space:pre">lization </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:492.75pt;position:var(--position);text-decoration:none;white-space:pre">of EPKINLY and was made to reflect that USD has become the predominant currency of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:383.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the Genmab A/S legal entity. The change has been implemented with prospective effect. The change in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">presentation currency is applied retrospectively and was made to better reflect the Company’s financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:405.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">position. Comparative figures for prior periods have been restated accordingly.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The consolidated statements of comprehensive income and the consolidated statements of cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">have been translated into the presentation currency using the average exchange rates prevailing during </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:446.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">each reporting period. In the consolidated balance sheets, all assets and liabilities have been translated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:457.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">using the period-end exchange rates, and all resulting exchange differences have been recognized in other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">comprehensive income for the relevant year and accumulated in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:655.7pt;position:var(--position);text-decoration:none;white-space:pre">translation reserves in equity.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:758.99pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:479.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Shareholders’ equity balances have been translated using historical rates in effect on the date of the </span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">transactions.</span> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The DKK/USD exchange rates used to reflect the change in presentation currency were as follows:</span><div style="position:var(--position);top:126.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2020</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2021</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2022</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Average rate</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1530</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">NA</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1415</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1451</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Closing rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1524</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1434</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">0.1483</span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:174.97pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:126.75pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q1 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q2 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q3 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.86pt;position:var(--position);text-decoration:none;white-space:pre">Q4 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Average rate</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1456</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1443</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1472</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1433</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:11.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1452</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Closing rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1450</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1435</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1502</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1400</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:23.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:23.2pt;position:var(--position);text-decoration:none;white-space:pre">0.1400</span></div></div></div></td></tr></tbody></table></div></div></div> 0.1530 0.1415 0.1451 0.1524 0.1434 0.1483 0.1456 0.1443 0.1472 0.1433 0.1452 0.1450 0.1435 0.1502 0.1400 0.1400 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:304.54pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:374.69pt;position:var(--position);text-decoration:none;white-space:pre"> </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:234.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">consolidated balance sheet:</span></div><div style="position:var(--position);top:253.22pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total assets</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.54pt;position:var(--position);text-decoration:none;white-space:pre">45,811</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(39,397)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">6,414</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.98pt;position:var(--position);text-decoration:none;white-space:pre">9,114</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.07pt;position:var(--position);text-decoration:none;white-space:pre">(7,837)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,277</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total shareholders' equity</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">36,697</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(31,560)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">5,137</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:342.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the January 1, 2024 consolidated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">balance sheets:</span></div><div style="position:var(--position);top:372.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.53pt;position:var(--position);text-decoration:none;white-space:pre">January 1, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.53pt;position:var(--position);text-decoration:none;white-space:pre">January 1, 2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total assets</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">35,289</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(30,057)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">5,232</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,679</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.07pt;position:var(--position);text-decoration:none;white-space:pre">(3,134)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">545</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total shareholders' equity</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.95pt;position:var(--position);text-decoration:none;white-space:pre">31,610</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(26,923)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">4,687</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:462.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:473.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of comprehensive income:</span></div><div style="position:var(--position);top:107.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,844<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,711)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Comprehensive income</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,274<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(7,365)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">909<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.76pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of comprehensive income:</span></div><div style="position:var(--position);top:215.22pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">4,352<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,721)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Comprehensive income</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">4,314<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,544)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">770<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:303.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.76pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of cash flows:</span></div><div style="position:var(--position);top:322.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Cash provided by (used in):</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Operating activities</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,771<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,645)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,126<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Investing activities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(9,907)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,460<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,447)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financing activities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,919)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,353<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(566)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:412.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:423.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.76pt;position:var(--position);text-decoration:none;white-space:pre"> consolidated statement of cash flows:</span></div><div style="position:var(--position);top:442.22pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Cash provided by (used in):</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:8.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Operating activities</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,380<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,309)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,071<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:8.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Investing activities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,282)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,097<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(185)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:8.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financing activities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(606)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">517<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:64.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(89)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre"> basic and diluted earnings per share:</span></div><div style="position:var(--position);top:137.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - basic</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">122.21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(104.55)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">17.66<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - diluted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">121.36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(103.83)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">17.53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:215.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The change in presentation currency resulted in the following impact on the 12 months ended </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:368.48pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:226.22pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">31, 2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:67.93pt;position:var(--position);text-decoration:none;white-space:pre"> basic and diluted earnings per share:</span></div><div style="position:var(--position);top:245.22pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.46pt;position:var(--position);text-decoration:none;white-space:pre">Previously </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.93pt;position:var(--position);text-decoration:none;white-space:pre">reported in DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Reported in USD</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.98pt;position:var(--position);text-decoration:none;white-space:pre">Presentation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.38pt;position:var(--position);text-decoration:none;white-space:pre">currency change</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:40.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - basic</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">66.64<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(56.97)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:40.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.42pt"></span></span><span style="left:53.050000000000004pt;position:var(--position)">9.67<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:52.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Earnings per share - diluted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">66.02<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(56.44)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:52.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.42pt"></span></span><span style="left:53.050000000000004pt;position:var(--position)">9.58<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div> 45811000000 -39397000000 6414000000 9114000000 -7837000000 1277000000 36697000000 -31560000000 5137000000 35289000000 -30057000000 5232000000 3679000000 -3134000000 545000000 31610000000 -26923000000 4687000000 7844000000 -6711000000 1133000000 8274000000 -7365000000 909000000 4352000000 -3721000000 631000000 4314000000 -3544000000 770000000 7771000000 -6645000000 1126000000 -9907000000 8460000000 -1447000000 -3919000000 3353000000 -566000000 7380000000 -6309000000 1071000000 -1282000000 1097000000 -185000000 -606000000 517000000 -89000000 122.21 -104.55 17.66 121.36 -103.83 17.53 66.64 -56.97 9.67 66.02 -56.44 9.58 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Currency</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Transactions in foreign currencies are translated at the exchange rates in effect at the date of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:346.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">transaction.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Except for foreign currency differences related to tax balances, e</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:264.92pt;position:var(--position);text-decoration:none;white-space:pre">xchange rate gains and losses arising </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">between the transaction date and the settlement date are recognized in the Consolidated Statements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of Comprehensive Income as financial income or expense</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:241.97pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Unsettled monetary assets and liabilities in foreign currencies are translated at the exchange rates in effect </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">at the balance sheet date. Exchange rate gains and losses arising between the transaction date and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:428.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">balance sheet date are recognized in the Consolidated Statements of Comprehensive Income as financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:439.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income or expense.</span></div> <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cost of Product Sales </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cost of product sales includes direct and indirect costs relating to the manufacturing of inventory mainly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">from third-party providers of manufacturing as well as costs related to internal resources and distribution </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">and logistics. Inventory amounts written down as a result of excess or obsolescence are charged to cost of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">product sales. Also included in cost of product sales are royalty payments on commercialized products. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:183.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Additionally, cost of product sales includes profit-sharing amounts owed to collaboration partners </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">for the sale of commercial products when Genmab is determined to be the principal in sales to end </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">customers. The only profit-sharing amounts owed to collaboration partners that are recorded as cost of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">product sales relate to sales of EPKINLY in the US and Japan pursuant to the Collaboration Agreement </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">with AbbVie.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:246.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Aside from these items, there are no other costs included within cost of product sales.</span></div> <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Research and Development Expenses</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:119.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses primarily include salaries, benefits and other employee-related costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of Genmab’s research and development staff, license costs, manufacturing costs, preclinical costs, clinical </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">trials, contractors and outside service fees, amortization and impairment of licenses and rights related to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">intangible assets, depreciation of property and equipment, and depreciation of right-of-use assets, to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">extent that such costs are related to the Group’s research and development activities.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Research and Development Projects</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Internal and subcontracted research costs are charged in full to research and development expenses in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income in the period in which they are incurred. Development </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">costs are also expensed until regulatory approval is obtained or is probable. Genmab has no internally </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:175.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">generated intangible assets from development, as the criteria for recognition of an intangible asset are not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:186.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">met. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab acquires licenses and rights primarily to gain access to targets and technologies identified by third </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">parties. Payments to third parties under collaboration and license agreements are assessed to determine </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">whether such payments should be expensed as incurred as research and development expenses or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">capitalized as an intangible asset. Licenses and rights that meet the criteria for capitalization as intangible </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">assets are measured at cost less accumulated amortization and any impairment losses. Milestone </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">payments related to capitalized licenses and rights are accounted for as an increase in the cost to acquire </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">licenses and rights. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">For acquired research and development projects, and intellectual property rights, including acquisition in a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">business combination, the likelihood of obtaining future commercial sales is reflected in the cost of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">asset, and thus the probability recognition criteria is always considered to be satisfied. As the cost </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of acquired research and development projects can often be measured reliably, these projects fulfil the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">capitalization criteria as intangible assets on acquisition. Development costs incurred subsequent to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acquisition are treated consistently with internal project development costs.</span></div> <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Selling, General and Administrative Expenses</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:220.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses relate to the management and administration of Genmab, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:231.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">including commercialization activities. This primarily includes salaries, benefits and other employee costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:242.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">related to management and support functions including human resources, information technology and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">finance departments. In addition, depreciation of property and equipment and depreciation of right-of-use </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:264.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">assets, to the extent such expenses are related to administrative functions, are also included. Selling, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:275.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">general and administrative expenses are recognized in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:286.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Income in the period to which they relate.</span></div> <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition and Integration Related Charges</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition and integration related charges for the acquisitions of Merus N.V. ("Merus") and ProfoundBio </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">which occurred during the fourth quarter of 2025 and second quarter of 2024, respectively.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Government G</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:109.69999999999999pt;position:var(--position);text-decoration:none;white-space:pre">rants</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Government grants are recognized at their fair value where there is reasonable assurance that the grant </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:397.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">will be received and that Genmab will comply with all attaching conditions. When the grant relates to an </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:408.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expense item, it is recognized as a reduction of that expense on a systematic basis over the periods that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:419.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the costs for which it is intended to compensate are incurred. Where the grant relates to an asset, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">fair value is credited to a contract liability account and is released to the statement of comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:441.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income as other operating income over the expected useful life of the relevant asset by equal annual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">installments.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Statements of Cash Flows</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The cash flow statement is presented using the indirect method with basis in the net profit before tax.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:503.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Cash flows from operating activities are stated as the net profit before tax adjusted for financial income and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:514.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expense, non-cash operating items including depreciation, amortization, impairment losses, share-based </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:525.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">compensation expenses, and for changes in operating assets and liabilities, interest paid and received, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:536.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">interest elements of lease payments and corporate taxes paid or received. Operating assets and liabilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:547.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are mainly comprised of changes in receivables, inventories and other payables excluding the items </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">included in cash and cash equivalents. Changes in non-current assets and liabilities are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">operating assets and liabilities, if related to the main revenue-producing activities of Genmab.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cash flows from investing activities consist of acquisitions of businesses, net of cash acquired, purchases </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">and sales of marketable securities and other investments, as well as purchases of intangible assets and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">property and equipment.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:178.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cash flows from financing activities relate to the purchase of treasury shares, exercise of warrants, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:189.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">payments of withholding taxes on behalf of employees on net settled RSUs and repayments of borrowings </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:200.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">including installments on loans, notes and lease liabilities. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:219.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents are comprised of cash, bank deposits, and marketable securities with a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:230.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">maturity of less than 90 days on the date of acquisition.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The statements of cash flows cannot be derived solely from the consolidated financial statements.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Treasury Shares</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">The total amount paid to acquire treasury shares including directly attributable costs and the proceeds from </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the sale of treasury shares is recognized in retained earnings.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Collaborations, License Agreements and Collaborative Agreements </span><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:323.92pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Collaborations and License Agreements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Genmab continues to pursue the establishment of research collaborations and licensing agreements. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:346.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">These arrangements often include upfront payments, expense reimbursements or payments to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:357.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">collaboration partner, and milestone and royalty arrangements, contingent upon the occurrence of certain </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:368.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">future events linked to the success of the asset in development. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">In regard to Genmab’s license agreements with J&amp;J, Novartis and Roche, each of these parties retain </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:398.32pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">final decision-making authority over the relevant activities and as such no joint control exists. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.32pt;width:841.89pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.24pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.21000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.31pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_819" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information related to revenue from these parties.</a></span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Collaborative Agreements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:119.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has entered into a number of joint collaborative agreements. These agreements often include </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">upfront payments, expense reimbursements or payments to the collaboration partner, and milestone and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">royalty arrangements, contingent upon the occurrence of certain future events linked to the success of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">asset in development. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:171.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">These agreements also provide Genmab with varying rights to develop, produce and market products </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:182.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">together with its collaborative partners. Both parties in these arrangements share in the decision-making </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:193.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and therefore have joint control of the arrangement. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:221.07999999999998pt;position:var(--position);text-decoration:none;white-space:pre">In 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:247.72pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab’s more significant collaboration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:204.12pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">agreements are with AbbVie (epcoritamab) and Pfizer (tisotumab vedotin).</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">New Accounting Policies </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:164.47pt;position:var(--position);text-decoration:none;white-space:pre">a</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:170.29999999999998pt;position:var(--position);text-decoration:none;white-space:pre">n</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:176.71pt;position:var(--position);text-decoration:none;white-space:pre">d Disclosures For </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:268.2pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:299.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has, with effect from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:143.27pt;position:var(--position);text-decoration:none;white-space:pre">January</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:171.69pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:173.91pt;position:var(--position);text-decoration:none;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:178.35pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:182.79pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:200.54999999999998pt;position:var(--position);text-decoration:none;white-space:pre">, implemented the following amendment:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:337.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The implementation of this amendment did not have a material impact on the consolidated financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:348.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">statements for the current or prior reporting periods and is not expected to have a significant impact </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:359.52pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in future reporting periods.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">New Accounting Policies</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:161.56pt;position:var(--position);text-decoration:none;white-space:pre"> and</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:183.12pt;position:var(--position);text-decoration:none;white-space:pre"> Disclosures Effective</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:292.09000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> in</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:304.32000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> 2026 </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:333.46000000000004pt;position:var(--position);text-decoration:none;white-space:pre">or</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:343.95000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:346.86pt;position:var(--position);text-decoration:none;white-space:pre">Later</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">Furthermore, as it relates to new or amended accounting standards and interpretations (IFRSs) not yet </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">effective, but issued by the IASB, Management does not anticipate any significant impact on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:90.55pt;position:var(--position);text-decoration:none;white-space:pre"> Financial Statements in the period of initial application from the adoption of these </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:438.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">new standards and amendments, apart from IFRS 18 ‘Presentation and Disclosure in Financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:449.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">Statements’ which replaces IAS 1 effective from 1 January 2027. Management is assessing the impact </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:460.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.94pt;position:var(--position);text-decoration:none;white-space:pre">of the standard on its financial statements, and the impact has not yet been determined. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">IFRS 18 introduces the following :</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:126.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.60999999999996pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">Changes the presentation of the financial statements, requiring items of income and expense to be </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">classified into five categories: operating, investing, finance, income taxes and discontinued operations </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">along with two new mandatory sub-totals, operating profit or loss and profit or loss before financing and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">income taxes. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.60999999999996pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">Requires companies to disclose definitions of company-specific management-defined performance </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">measures (MPMs) that are related to the statement of income and provide reconciliations between the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">MPMs and the most similar specified subtotals within the statement of income in a single note.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.60999999999996pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">Provides enhanced guidance on the principles of how items should be aggregated or disaggregated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">based on shared characteristics. The changes are expected to provide more detailed and useful </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.53pt;position:var(--position);text-decoration:none;white-space:pre">information to investors and impacts all primary financial statements and notes.</span></div> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">In preparing financial statements under IFRS, certain provisions in the standards require Management’s </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">judgements, including various accounting estimates and assumptions. These judgements and estimates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:293.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">affect the application of accounting policies, as well as reported amounts within the consolidated financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:304.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">statements and disclosures.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Determining the carrying amount of certain assets and liabilities requires judgements, estimates and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">assumptions concerning future events that are based on historical experience and other factors, which by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">their very nature are associated with uncertainty and unpredictability.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:364.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Accounting estimates are based on historical experience and various other factors relative to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:375.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">circumstances in which they are applied. Estimates are generally made based on information available </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">at the time. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:405.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">Accounting judgements are made in the process of applying accounting policies. These judgements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">are typically made based on the guidance and information available at the time of application. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">These estimates and judgements may prove incomplete or incorrect, and unexpected events or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:446.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">circumstances may arise. Genmab is also subject to risks and uncertainties which may lead actual results </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:457.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">to differ from these estimates, both positively and negatively. Specific risks for Genmab are discussed in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.72pt;width:841.89pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.61pt;position:var(--position);text-decoration:none;white-space:pre">the relevant section of this Annual Report and in the notes to the consolidated financial statements.</span></div><div style="position:var(--position);top:107.72pt;width:841.89pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:233.25pt"></td><td style="padding:0;width:39.75pt"></td><td style="padding:0;width:39.75pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">policy</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);width:233.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Key accounting estimates and judgements</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);width:39.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Note </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">reference</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);width:39.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Risk</span></div></div></div></td></tr><tr style="height:57pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value and </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">assessment of </span></div><div style="line-height:8pt;position:var(--position);top:29.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">other intangible </span></div><div style="line-height:8pt;position:var(--position);top:38.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">assets and </span></div><div style="line-height:8pt;position:var(--position);top:47.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:20.25pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation of the fair value of other intangible assets acquired </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">through acquisitions</span></div><div style="line-height:8pt;position:var(--position);top:24.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Subsequent assessment of impairment of other intangible assets</span></div><div style="line-height:8pt;position:var(--position);top:37.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation regarding the valuation of goodwill and assessment of </span></div><div style="line-height:8pt;position:var(--position);top:46.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment of goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:20.25pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Notes </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:26.32pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:37.06pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:11.88pt;width:39.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">and</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:15.59pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.69pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">5.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:20.25pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">High</span></div></div></div></td></tr><tr style="height:78pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">recognition</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:77.25pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement in assessing whether a collaboration </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">partner is a customer</span></div><div style="line-height:8pt;position:var(--position);top:24.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation of partner net sales amounts in the </span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">calculation of royalties</span></div><div style="line-height:8pt;position:var(--position);top:46.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation of variable consideration</span></div><div style="line-height:8pt;position:var(--position);top:59.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement in assessing the nature of combined performance </span></div><div style="line-height:8pt;position:var(--position);top:68.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">obligations within contracts </span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:77.25pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:77.25pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">High</span></div></div></div></td></tr><tr style="height:42.75pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:155.25pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">compensation</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:155.25pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement in selecting assumptions required for valuation of </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">warrant grants</span></div><div style="line-height:8pt;position:var(--position);top:24.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Estimation in developing forfeiture rate RSUs/warrants and </span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:233.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">probability of achievement for PSUs</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:155.25pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">4.6</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:155.25pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Moderate</span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:198pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current and </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deferred income </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">taxes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:65.25pt;position:var(--position);top:198pt;width:233.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judgement and estimation regarding valuation of deferred </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:233.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">income tax assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:198pt;width:39.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:338.25pt;position:var(--position);top:198pt;width:39.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:39.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Moderate</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:0pt;left:36.85pt;position:var(--position);width:316.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:299.25pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-242" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:299.25pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:299.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates</span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:473.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred Tax</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes deferred tax assets if Management assesses that these tax assets can be offset </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:495.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">against positive taxable income within the foreseeable future. This judgement is made on an ongoing basis </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:506.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and is based on numerous factors, including actual results, budgets, and business plans for the coming </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:517.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">years.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:536.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Realization of deferred tax assets is dependent upon a number of factors, including estimated future </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:547.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">taxable earnings, the timing and amount of which are highly uncertain. A significant portion of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">future taxable income will be driven by future events that are highly susceptible to factors outside the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">control of Genmab including overall commercial growth, specific clinical outcomes, regulatory approvals, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">advancement of Genmab’s product pipeline and other matters. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:649.25pt;position:var(--position);text-decoration:none;white-space:pre">As such, changes in estimates of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the impact from these factors could impact Genmab’s future taxable income in a positive or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">negative manner. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, 2025, the deferred tax assets of Merus B.V. and Merus U.S. are not recognized. As a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">result of the ProfoundBio integration activities, Genmab, based on current business plans and estimates of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">future taxable income, recognized a significant portion of previously unrecognized deferred tax assets </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">during 2024.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:470.9pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:0pt;left:36.85pt;position:var(--position);width:326.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:309pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-249" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:309pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:309pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates</span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Impairment Assessment of Goodwill and Other Intangible Assets</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab performs its annual test of goodwill and indefinite-lived intangible assets for impairment in its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">fiscal fourth quarter.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:106.99000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> Indefinite-lived intangible assets and the CGU including goodwill are monitored for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">indicators of impairment throughout the year. If indicators of impairment exist, then an impairment test is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performed. T</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:82.43pt;position:var(--position);text-decoration:none;white-space:pre">he recoverable amount of certain intangible assets was determined using VIU</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:356.35pt;position:var(--position);text-decoration:none;white-space:pre">. The VIU used </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in impairment tests is based on Management’s projections and anticipated net present value of estimated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">future cash flows from marketable products and products in development. Goodwill and intangible assets </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:207.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not yet available for use are tested for impairment at least annually or when indicators of impairment are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">identified. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.24000000000001pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill is allocated to the single operating segment.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:261.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> The discount rate used is based on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Group WACC, adjusted where appropriate, to reflect the risk of the specific asset tested. VIU is determined </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:240.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">using largely unobservable inputs. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:259.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Assets that are subject to amortization are reviewed for impairment whenever events or changes in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">circumstances indicate that the carrying amount may not be recoverable. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:289.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Factors considered material that could trigger an impairment test include the following:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:308.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Development of a competing drug </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Realized sales trending below predicted sales </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:338.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Inconsistent or unfavorable clinical readouts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Changes in the legal framework covering patents, rights, and licenses </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:368.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Advances in medicine and/or technology that affect the medical treatments </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:383.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Adverse impact on reputation and/or brand names</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">An impairment loss is recognized in Consolidated Statements of Comprehensive Income as research </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and development expenses when the carrying amount of intangible assets exceeds the recoverable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount. Impairments on intangible assets, other than goodwill, are reviewed at each reporting date </span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">for possible reversal</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation Expenses</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of each warrant granted during the year is calculated using the Black-Scholes pricing model. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">This pricing model requires the input of subjective assumptions such as:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:171.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:452.41pt;position:var(--position);text-decoration:none;white-space:pre">expected stock price volatility</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:566.04pt;position:var(--position);text-decoration:none;white-space:pre">, which is based upon the historical volatility of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:182.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">stock price; </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:197.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:452.41pt;position:var(--position);text-decoration:none;white-space:pre">risk-free interest rate</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:531.87pt;position:var(--position);text-decoration:none;white-space:pre">,</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:534.09pt;position:var(--position);text-decoration:none;white-space:pre"> which is determined as the interest rate on Danish government bonds </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:208.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">(bullet issues) with an average maturity of five years; </span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:223.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:452.41pt;position:var(--position);text-decoration:none;white-space:pre">expected life of warrants</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:557.83pt;position:var(--position);text-decoration:none;white-space:pre">,</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:560.05pt;position:var(--position);text-decoration:none;white-space:pre"> which is based on vesting terms, expected rate of exercise and life </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:234.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">terms in the current warrant program.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">These assumptions can vary over time and can change the fair value of future warrants granted.</span></div><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:360.75pt"></td></tr><tr style="height:27.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-293" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:360.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:3.22pt;width:360.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates – </span></div><div style="line-height:10.5pt;position:var(--position);top:15.82pt;width:360.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Other Intangible Assets and Goodwill</span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:140.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair Value and Impairment Assessment of Other Intangible Assets and Goodwill</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The application of the acquisition method for a business combination as well as allocation of fair value </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">through an asset acquisition involve the use of significant estimates because the identifiable net assets of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:173.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the acquiree are recognized at their fair values for which observable market prices are typically not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:184.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">available. This is particularly relevant for intangible assets which require use of valuation techniques </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:195.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">typically based on estimates of present value of future uncertain cash flows. The significant assumptions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:206.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">used to estimate the value of the acquired intangible assets include discount rates and certain assumptions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:217.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">that form the basis of future cash flows (such as probabilities of technical and regulatory success, revenue </span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">growth rates, operating margins, and royalty rates)</span> -100000000 100000000 63000000 -63000000 <div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.03pt;position:var(--position);text-decoration:none;white-space:pre">Reclass</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial income:</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">184<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">237<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate gain</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">431<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(173)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">258<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial income</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">505<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(4)</span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">501<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial expenses:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(23)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(84)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(107)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:120pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(239)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">73<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(166)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:132pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:144pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial expenses</span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(277)</span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(273)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:156pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net financial items</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">228<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">228<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div><div style="position:var(--position);top:288.72pt;width:841.89pt"><div style="font-size:0pt;left:426.61pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.03pt;position:var(--position);text-decoration:none;white-space:pre">Reclass</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial income:</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">72<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">85<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">157<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate gain</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">57<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(57)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(10)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial income</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">157<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:96pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial expenses:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:108pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(26)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(148)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:108pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(174)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:120pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(186)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">120<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:120pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(66)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:132pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on other investments, net</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:132pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(4)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:144pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial expenses</span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(226)</span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(18)</span></span></div></div></div></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:144pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(244)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:156pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net financial items</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(87)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:156pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(87)</span></span></div></div></div></td></tr></tbody></table></div></div></div> 53000000 184000000 237000000 431000000 -173000000 258000000 21000000 -15000000 6000000 505000000 -4000000 501000000 23000000 84000000 107000000 239000000 -73000000 166000000 15000000 -15000000 0 277000000 -4000000 273000000 228000000 0 228000000 72000000 85000000 157000000 57000000 -57000000 0 10000000 -10000000 0 139000000 18000000 157000000 26000000 148000000 174000000 186000000 -120000000 66000000 14000000 -10000000 4000000 226000000 18000000 244000000 -87000000 0 -87000000 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Section 2 - Result for the Year</span><div style="font-size:12pt;line-height:12pt;position:var(--position);top:146.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">This section includes disclosures related to revenue, information about </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:160.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">geographical areas, staff costs, corporate and deferred tax, and profit </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:174.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">per</span><span style="color:#691a6b;font-family:'null', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:54.18pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:57.510000000000005pt;position:var(--position);text-decoration:none;white-space:pre">share. </span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.1 - Revenue</span><div style="position:var(--position);top:210.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue by type:</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Royalties</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,102</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,517</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,989</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net product Sales</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">398</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">253</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">61</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Reimbursement revenue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">53</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">144</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">124</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Milestone revenue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">97</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">145</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">171</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Collaboration revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">70</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">62</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">45</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,720</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,121</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,390</span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:111pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue by collaboration partner:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:123pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Janssen</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:123pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,565</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:123pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,091</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:123pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,734</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:135pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">AbbVie</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:135pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:135pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">58</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:135pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">106</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:147pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Roche</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">106</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">107</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">102</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:159pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Novartis</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:159pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">446</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:159pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">408</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:159pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">219</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:171pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">BioNTech</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:171pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">40</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:171pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">127</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:171pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.64pt;position:var(--position);text-decoration:none;white-space:pre">114</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:183pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Pfizer</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:22.33pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:183pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">77</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:183pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">77</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:183pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">54</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:197.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">22</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:209.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:bold;left:21.11pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,322</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,868</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,329</span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:239.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Royalties by product:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:251.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DARZALEX</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:251.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,443</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:251.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,019</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:251.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,635</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:263.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Kesimpta</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:263.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">443</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:263.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">323</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:263.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">217</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:275.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">TEPEZZA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:275.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">105</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:275.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">106</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:275.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">102</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:287.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:22.009999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:287.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.23pt;position:var(--position);text-decoration:none;white-space:pre">111</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:287.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">69</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:287.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">35</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:301.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:301.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,102</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:301.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,517</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:301.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,989</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:531.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Pzifer acquired Seagen in December 2023 </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:540.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Excludes Genmab’s Net product sales</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:549.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Other consist of royalties from net sales of RYBREVANT, TECVAYLI, TALVEY and TEPKINLY</span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-234" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes revenue when its customer obtains control of promised goods or services, in an </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">amount that reflects the consideration that it expects to receive in exchange for those goods or services. To </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">determine revenue recognition for arrangements that Genmab determines are within the scope of IFRS 15, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:173.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:184.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:195.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">satisfies a performance obligation. Genmab only applies the five-step model to contracts when it is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:206.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">probable that the Company will collect the consideration it is entitled to in exchange for the goods or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:217.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">services it transfers to the customer. At contract inception, once the contract is determined to be within the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:228.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">scope of IFRS 15, Genmab assesses the goods and services promised within each contract and identifies </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:239.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">as a performance obligation each good or service that is distinct. Revenue is recognized in the amount of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:250.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the transaction price that is allocated to the respective performance obligation when (or as) the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:261.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">performance obligation is satisfied.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:280.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Royalties: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:471.96999999999997pt;position:var(--position);text-decoration:none;white-space:pre">Certain of Genmab’s license and collaboration agreements include sales-based royalties </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">based on the level of sales. The license has been deemed to be the predominant item to which the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:302.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">royalties relate under Genmab’s license and collaboration agreements. As a result, Genmab recognizes </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:313.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">revenue when the related sales occur.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:332.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Net Product Sales:</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:506.44pt;position:var(--position);text-decoration:none;white-space:pre"> Revenue from the sale of goods is recognized when control is transferred to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">customer and it is probable that Genmab will collect the consideration to which it is entitled for transferring </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the products. Control of the products is transferred at a single point in time which occurs upon delivery to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the customer. The amount of sales to be recognized is based on the consideration Genmab expects to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">receive in exchange for its goods. When sales are recognized, an estimate for a variety of sales deductions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is also recorded such as cash discounts, government rebates, chargebacks, wholesaler fees, other rebates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:398.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and administrative fees, sales returns and allowances and other sales discounts. Sales deductions are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:409.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">estimated and recognized as a reduction of gross product sales to arrive at net product sales, by assessing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:420.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the expected value of the sales deductions (variable consideration). Sales deductions are estimated and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:431.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">provided for at the time the related sales are recorded. Genmab’s estimates related to sales deductions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:442.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">require significant use of estimates as not all conditions are known at the time of sale. The estimates are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:453.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">based on analyses of existing contractual obligations, historical experience, drug product analogs and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:464.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">payer channel mix. Genmab considers the provisions established for sales deductions to be reasonable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:475.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and appropriate based on currently available information; however, the actual amount of deductions may </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:486.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">differ from the amounts estimated by Management as more information becomes available. Estimates will </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:497.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">be assessed each period and adjusted as required based on updated information and actual experience.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:513.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">When Genmab is determined to be the principal in sales to end customers, all product sales are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:524.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net product sales in the Consolidated Statements of Comprehensive Income. As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:720.44pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:790.5899999999999pt;position:var(--position);text-decoration:none;white-space:pre">, all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:535.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net product sales relate to sales of EPKINLY in the US and Japan and Tivdak in Japan and Germany, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:546.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">pursuant to the Collaboration Agreements with AbbVie and Pfizer, respectively.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Reimbursement Revenue for R&amp;D Services: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:226.21pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s research collaboration agreements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">include provisions for reimbursement or cost sharing for R&amp;D services and payment for full time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equivalents (“FTEs”) at contractual rates. R&amp;D services are performed and satisfied over time given that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the customer simultaneously receives and consumes the benefits provided by Genmab and revenue for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">research services is recognized over time rather than at a point in time.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Milestone Revenue: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:123.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre">Certain of Genmab’s license and collaboration agreements include development, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">regulatory and commercial milestone payments based on the level of sales. At the inception of each </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">arrangement that includes milestone payments, Genmab evaluates whether the achievement of milestones </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">is considered highly probable and estimates the amount to be included in the transaction price using the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">most likely amount method. If it is highly probable that a significant revenue reversal would not occur, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">associated milestone value is included in the transaction price. Milestone payments that are not within the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:236.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">control of Genmab or the license and collaboration partner, such as regulatory approvals, are not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">considered probable of being achieved until those approvals are received. The transaction price is then </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:258.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">allocated to each performance obligation on a relative stand-alone selling price basis, for which Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:269.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:280.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">each subsequent reporting period, Genmab re-evaluates the probability of achievement of such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development milestones and commercial milestones and any related constraint, and if necessary, adjusts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:302.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:313.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">basis, which would affect revenue and earnings in the period of adjustment. Under all of Genmab’s existing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:324.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">license and collaboration agreements, milestone payments have been allocated to the license transfer </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performance obligation.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:354.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Collaboration Revenue:</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:137.74pt;position:var(--position);text-decoration:none;white-space:pre"> Collaboration revenue includes the result of profit sharing arrangements for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the sale of commercial products by our collaboration partners. When Genmab’s collaboration partner is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">determined to be the principal in sales to end customers, Genmab’s share of profits for the sale of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">commercial products is included in collaboration revenue.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:403.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">License Revenue for Intellectual Property: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:219.2pt;position:var(--position);text-decoration:none;white-space:pre">If the license to Genmab’s functional intellectual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">property is determined to be distinct from the other performance obligations identified in the arrangement, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes revenues from non-refundable upfront fees allocated to the license at the point in time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the license is transferred to the licensee and the licensee is able to use and benefit from the license. For </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:447.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">licenses that are bundled with other promises, Genmab utilizes judgement to assess the nature of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">combined performance obligation to determine whether the combined performance obligation is satisfied </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:480.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of recognizing revenue from non-refundable, upfront fees. Under all of Genmab’s existing license and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:491.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">collaboration agreements the license to functional intellectual property has been determined to be distinct </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:502.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">from other performance obligations identified in the agreement.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:518.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.6</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1"> for detailed information regarding Genmab’s significant Research Collaborations, </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:528.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">License Agreements and Collaborative Agreements.</a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:545.92pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_723" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_723" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_723" style="color:inherit;text-decoration:inherit;z-index:1"> </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:100.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_723" style="color:inherit;text-decoration:inherit;z-index:1">for Management’s judgements and estimates related to revenue recognition.</a></span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">2.2 - Information about Geographical Areas</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab is managed and operated as </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:562.8199999999999pt;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:576.14pt;position:var(--position);text-decoration:none;white-space:pre"> business unit, which is reflected in the organizational structure </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and internal reporting. No separate lines of business or separate business entities have been identified </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">with respect to any licensed products, marketed products, product candidates or geographical markets and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">no segment information is currently prepared for internal reporting.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:178.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Accordingly, it has been </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:512.94pt;position:var(--position);text-decoration:none;white-space:pre">concluded</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:549.35pt;position:var(--position);text-decoration:none;white-space:pre"> that it is not relevant to include segment disclosures in the financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:189.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">statements as Genmab’s business activities are not organized on the basis of differences in related </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:200.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">product and geographical areas.</span></div><div style="position:var(--position);top:219.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:76.5pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.37pt;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.75pt;position:var(--position);text-decoration:none;white-space:pre">Non-current </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.28pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.37pt;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.75pt;position:var(--position);text-decoration:none;white-space:pre">Non-current </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.28pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.37pt;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.75pt;position:var(--position);text-decoration:none;white-space:pre">Non-current </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.28pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:20.25pt;width:100.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:100.5pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.91pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:20.25pt;width:100.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:100.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.91pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:20.25pt;width:100.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:100.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.91pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Denmark</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,326<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,791<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,868<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,779<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,329<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">75<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">7,512<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">108<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">130<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">United States</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">459<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">131<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">447<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">55<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">56<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Japan</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">213<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">122<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">China</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,720<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">9,780<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,121<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,390<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">269<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:336.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Out</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:439.39pt;position:var(--position);text-decoration:none;white-space:pre"> of total non-current assets of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:545.06pt;position:var(--position);text-decoration:none;white-space:pre">$9,780 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:594.3199999999999pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:598.76pt;position:var(--position);text-decoration:none;white-space:pre">$1,728 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:648.02pt;position:var(--position);text-decoration:none;white-space:pre"> relates to intangible assets in Denmark </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">primarily acquired as part of the acquisition of ProfoundBio, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:637.81pt;position:var(--position);text-decoration:none;white-space:pre">$7,394 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:687.0699999999999pt;position:var(--position);text-decoration:none;white-space:pre"> relates to intangibles in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Netherlands acquired as a part of the acquisition of Merus N.V. and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:665.96pt;position:var(--position);text-decoration:none;white-space:pre">$355 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:708.56pt;position:var(--position);text-decoration:none;white-space:pre"> relates to Goodwill in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">United States acquired through the acquisition of ProfoundBio.</span></div><div style="position:var(--position);top:388.22pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-236" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Geographi</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:463.8pt;position:var(--position);text-decoration:none;white-space:pre">cal information is presented for Genmab’s revenue and non-current assets. Revenue is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">attributed to countrie</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:499.31pt;position:var(--position);text-decoration:none;white-space:pre">s on the basis of the location of the legal entity holding the contract with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">counterparty. Non-current assets comprise intangible assets, goodwill, property and equipment, right-of-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:443.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">use assets, and receivables.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.3 - Staff Costs</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Wages and salaries</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">547<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">460<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">381<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">128<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">105<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">85<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Defined contribution plans</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">34<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other social security costs</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">77<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">58<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">49<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Government grants related to research and </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">development expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(23)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(22)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(25)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:80.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:80.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">763<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:80.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:80.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">515<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:92.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Staff costs are included in the Consolidated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Statements of Comprehensive Income as </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">follows:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost of product sales</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">436<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">366<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">291<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">323<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">263<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">224<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:158.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">763<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">515<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:170.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Average number of FTE</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:170.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,694<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:170.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,535<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:170.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,011<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:182.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Number of FTE at year-end</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:182.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,029<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:182.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,682<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:182.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,204<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:333.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Staff costs also include </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:120.63pt;position:var(--position);text-decoration:none;white-space:pre">$58 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:158.79pt;position:var(--position);text-decoration:none;white-space:pre"> of payments to Merus option holders for the portion of the equity payout </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:344.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">attributable to the post-combination period, which were recorded in Acquisition and integration related </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:355.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">charges in the Consolidated Statements of Income during the fourth quarter of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:314.77000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:332.53000000000003pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:374.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">4.6</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1"> </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:100.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1">for additional information regarding share-based instruments</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:314.28000000000003pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:318.72pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:338.69pt;position:var(--position);text-decoration:none;white-space:pre">5.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:349.79pt;position:var(--position);text-decoration:none;white-space:pre"> for additional </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">information regarding the remuneration of the Board and Executive Management and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:339.62pt;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:359.59000000000003pt;position:var(--position);text-decoration:none;white-space:pre">5.5</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:370.69pt;position:var(--position);text-decoration:none;white-space:pre"> for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.17pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">additional information related to the acquisition of Merus.</span></div><div style="position:var(--position);top:411.77pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-238" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:434.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Staff costs</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Wa</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:48.55pt;position:var(--position);text-decoration:none;white-space:pre">ges and salaries, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.15pt;position:var(--position);text-decoration:none;white-space:pre">other social security costs, paid leave and bonuses, and other employee benefits are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognized in the financial year in which the employee performs the associated work.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:473.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s pension plans are classified as defined contribution plans and, accordingly, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:341.56pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:350.44pt;position:var(--position);text-decoration:none;white-space:pre"> pension </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">obligations are recognized in the balance sheet. Costs relating to defined contribution plans are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:495.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the income statement in the period in which they are accrued, and outstanding contributions are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:506.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">other payables.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:523.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Termination benefits are recognized as an expense, when Genmab is committed demonstrably, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:534.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">without realistic possibility of withdrawal, to a formal detailed plan to terminate employment.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">2.4 - Corporate and Deferred Tax</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Taxation – Income Statement &amp; Shareholders’ Equity</span></div><div style="position:var(--position);top:139.32pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current tax on profit</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">256<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">261<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">189<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Adjustment to deferred tax</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(63)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(9)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net increase (decrease) of unrecognized </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deferred tax assets for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">51<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(84)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax for the period in the income </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">statement</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">241<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">193<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">186<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:241.57pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit before tax</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.53pt"></span></span><span style="left:44.160000000000004pt;position:var(--position)">1,204<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.53pt"></span></span><span style="left:44.160000000000004pt;position:var(--position)">1,326<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">817<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tax at the Danish corporation tax rate of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">22%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:18.26pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> for all periods</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">265<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">292<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tax effect of:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net increase (decrease) of unrecognized </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deferred tax assets for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.63pt"></span></span><span style="left:55.260000000000005pt;position:var(--position)">51<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(84)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net of non-taxable income over non-</span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deductible expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(36)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.63pt"></span></span><span style="left:55.260000000000005pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current and deferred tax adjustments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(36)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(30)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.41pt"></span></span><span style="left:57.04pt;position:var(--position)">(1)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.41pt"></span></span><span style="left:57.04pt;position:var(--position)">(3)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:53.51pt"></span></span><span style="left:56.14pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax effect</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(24)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(99)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax for the period in the income </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">statement</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">241<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">193<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">186<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:155.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax for the period in shareholders' </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">equity</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.41pt"></span></span><span style="left:57.04pt;position:var(--position)">(3)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:176.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effective Tax Rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:176.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:48.6pt;position:var(--position)"></span><span style="left:48.6pt;position:var(--position)">20.0</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:176.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.6pt;position:var(--position)"></span><span style="left:48.6pt;position:var(--position)">14.6</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:176.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.6pt;position:var(--position)"></span><span style="left:48.6pt;position:var(--position)">22.8</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:442.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"> Corporate tax consists of current tax and the adjustment of deferred taxes during the year. The corporate </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">tax expense was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.24pt;position:var(--position);text-decoration:none;white-space:pre">$241 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:530.84pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:533.06pt;position:var(--position);text-decoration:none;white-space:pre">in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:541.49pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:559.25pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:563.69pt;position:var(--position);text-decoration:none;white-space:pre">$193 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:606.29pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:616.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:634.7pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:652.46pt;position:var(--position);text-decoration:none;white-space:pre">$186 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:695.06pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:705.71pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:723.47pt;position:var(--position);text-decoration:none;white-space:pre">. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:727.77pt;position:var(--position);text-decoration:none;white-space:pre">Tax benefits of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:781.5pt;position:var(--position);text-decoration:none;white-space:pre">$3 </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:462.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:449.13pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:459.78pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:477.53999999999996pt;position:var(--position);text-decoration:none;white-space:pre">, tax expense of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:536.16pt;position:var(--position);text-decoration:none;white-space:pre">$7 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:569.88pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:572.1pt;position:var(--position);text-decoration:none;white-space:pre">in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:580.53pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:598.29pt;position:var(--position);text-decoration:none;white-space:pre"> and tax expense of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:670.23pt;position:var(--position);text-decoration:none;white-space:pre">$8 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:703.95pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:714.5999999999999pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:732.36pt;position:var(--position);text-decoration:none;white-space:pre">, related to excess </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:471.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">tax benefits for share-based compensation were recorded directly in shareholders’ equity. Other current </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:481.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and deferred tax adjustments primarily driven by income subject to tax at a lower rate than the statutory </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:490.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">U.S. rate.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">There were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:469.12pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:478pt;position:var(--position);text-decoration:none;white-space:pre"> additional unrecognized tax losses utilized in 2025. As a result of the ProfoundBio </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:523.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">integration activities, Genmab utilized approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:612.95pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:617.39pt;position:var(--position);text-decoration:none;white-space:pre">360 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:655.55pt;position:var(--position);text-decoration:none;white-space:pre"> of previously unrecognized tax </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:534.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">losses during 2024, compared to an estimate </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:588.12pt;position:var(--position);text-decoration:none;white-space:pre">of</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:594.78pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:597pt;position:var(--position);text-decoration:none;white-space:pre">$319 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:639.6pt;position:var(--position);text-decoration:none;white-space:pre"> disclosed in the prior year.</span></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab operates in multiple jurisdictions which have enacted new legislation to implement the global </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">minimum top-up tax, which became effective on January 1, 2024. Under this legislation, the Company is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">liable to pay a top-up tax for the difference between its GloBE Effective Tax Rate per jurisdiction and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">minimum rate of 15</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:105.21000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> percent</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:134.07pt;position:var(--position);text-decoration:none;white-space:pre">. The rules have no impact on the tax position of Genmab in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:347.48pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:365.24pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Taxation – </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:91.62pt;position:var(--position);text-decoration:none;white-space:pre">Balance</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:131.84pt;position:var(--position);text-decoration:none;white-space:pre"> Sheet</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:172.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Significant components of the deferred tax asset(liability) are as follows:</span></div><div style="position:var(--position);top:191.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:380.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:164.25pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based instruments</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">52<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Deferred revenue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Intangible assets</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(410)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(409)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(9)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tax losses and credits carried forward</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other temporary differences</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">86<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">95<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(193)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(203)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">31<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:71.25pt"></td><td style="padding:0;width:49.5pt"></td><td style="padding:0;width:36.75pt"></td><td style="padding:0;width:42.75pt"></td><td style="padding:0;width:42.75pt"></td><td style="padding:0;width:42.75pt"></td><td style="padding:0;width:49.5pt"></td><td style="padding:0;width:42.75pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);width:49.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.55pt;position:var(--position);text-decoration:none;white-space:pre">Share-</span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.2pt;position:var(--position);text-decoration:none;white-space:pre">based </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.99pt;position:var(--position);text-decoration:none;white-space:pre">instruments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);width:36.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.31pt;position:var(--position);text-decoration:none;white-space:pre">Deferred </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.37pt;position:var(--position);text-decoration:none;white-space:pre">revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.73pt;position:var(--position);text-decoration:none;white-space:pre">Intangible </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.78pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.56pt;position:var(--position);text-decoration:none;white-space:pre">Liabilities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.2pt;position:var(--position);text-decoration:none;white-space:pre">Tax </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.78pt;position:var(--position);text-decoration:none;white-space:pre">losses </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.13pt;position:var(--position);text-decoration:none;white-space:pre">carried </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.65pt;position:var(--position);text-decoration:none;white-space:pre">forward</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);width:49.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.89pt;position:var(--position);text-decoration:none;white-space:pre">Other </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:10.23pt;position:var(--position);text-decoration:none;white-space:pre">temporary </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.89pt;position:var(--position);text-decoration:none;white-space:pre">differences</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.22pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:39.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the beginning of </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:50.25pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:50.25pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(409)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:50.25pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">95<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(203)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:90pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Recognised in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Profit or Loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:90pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:90pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:29.61pt"></span></span><span style="left:32.24pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:25.17pt"></span></span><span style="left:27.8pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:90pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.36pt"></span></span><span style="left:38.99pt;position:var(--position)">(9)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:111pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquired in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Business </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Combinations</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:111pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:111pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:111pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:141pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the end of the </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">year</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:141pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">52<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:141pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(410)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:141pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">86<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(193)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:192.75pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:39.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:204.75pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the beginning of </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:204.75pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.02pt"></span></span><span style="left:41.650000000000006pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:204.75pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:29.61pt"></span></span><span style="left:32.24pt;position:var(--position)">(9)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:204.75pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">31<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:244.5pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Recognised in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Profit or Loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:244.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:244.5pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:25.17pt"></span></span><span style="left:27.8pt;position:var(--position)">(52)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:244.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">79<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.39pt"></span></span><span style="left:26.02pt;position:var(--position)">114<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:265.5pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquired in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Business </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Combinations</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:265.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:265.5pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(348)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:265.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(348)</span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:295.5pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the end of the </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:295.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:295.5pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(409)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:295.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">95<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(203)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes deferred tax assets if it is probable that sufficient taxable income will be available in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:466.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the future. Management has considered future taxable income and applied its judgement in assessing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:477.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">whether deferred tax assets should be recognized.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:496.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The difference between the deferred tax liability as of December 31, 2024 and the deferred tax liability </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:507.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acquired as part of the acquisition of ProfoundBio relates to the reestablishment of the deferred tax liability </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:518.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">as a result of the transfer of intangible assets from ProfoundBio US to Genmab A/S during the fourth </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:529.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">quarter of 2024. The transferred intangible assets were fully depreciated for Danish tax purposes in 2024.</span></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.28pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.43pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab had estimated gross unrecognized tax loss carryforwards in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Netherlands of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:91.00999999999999pt;position:var(--position);text-decoration:none;white-space:pre">$1.6 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:129.17pt;position:var(--position);text-decoration:none;white-space:pre"> and in the United States of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:227.73pt;position:var(--position);text-decoration:none;white-space:pre">$0.1 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:265.89pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:268.11pt;position:var(--position);text-decoration:none;white-space:pre">to</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:274.77pt;position:var(--position);text-decoration:none;white-space:pre"> reduce future taxable income. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.28pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.43pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab had estimated gross unrecognized tax loss carryforwards in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Netherlands of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:91.00999999999999pt;position:var(--position);text-decoration:none;white-space:pre">$0.1 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:129.17pt;position:var(--position);text-decoration:none;white-space:pre">.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:131.39000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> The increase of the loss carryforwards is due to the acquisition of Merus </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">B.V; and Merus U.S. The tax losses available in the Netherlands and the United States as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:364.52000000000004pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:54.61pt;position:var(--position);text-decoration:none;white-space:pre"> can be carried forward indefinitely.</span></div><div style="position:var(--position);top:181.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-241" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:203.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Corporate</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:82.21000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> Tax</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:215.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Corporate tax, which consists of current tax and deferred taxes for the year, is recognized in the income </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:226.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">statement, except to the extent that the tax is attributable to items which directly relate to shareholders’ </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:237.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equity or other comprehensive income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:256.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Current tax assets and liabilities for current and prior periods are measured at the amounts expected to be </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:267.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recovered from or paid to the tax authorities.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:286.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred Tax</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:297.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax accounting requires recognition of deferred tax on all temporary differences between the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:308.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">carrying amount of assets and liabilities and the tax base of such assets and liabilities. This includes the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">tax value of certain tax losses carried forward.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:338.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax is calculated in accordance with the tax regulations in the local countries and the tax rates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:349.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expected to be in force at the time the deferred tax is utilized. Changes in deferred tax as a result of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:360.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">changes in tax rates are recognized in the income statement.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:379.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax assets resulting from temporary differences, including the tax value of losses to be carried </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:390.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">forward, are recognized only to the extent that it is probable that future taxable profit will be available </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:401.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">against which the differences can be utilized.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:420.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax liabilities are recognized for taxable temporary differences that arise when the carrying </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:431.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount of an asset exceeds its tax basis or the carrying amount of a liability is less than its tax base.</span></div><div style="position:var(--position);top:450.77pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:316.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:299.25pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-242" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:299.25pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:299.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:473.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred Tax</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes deferred tax assets if Management assesses that these tax assets can be offset </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:495.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">against positive taxable income within the foreseeable future. This judgement is made on an ongoing basis </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:506.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and is based on numerous factors, including actual results, budgets, and business plans for the coming </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:517.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">years.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:536.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Realization of deferred tax assets is dependent upon a number of factors, including estimated future </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:547.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">taxable earnings, the timing and amount of which are highly uncertain. A significant portion of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">future taxable income will be driven by future events that are highly susceptible to factors outside the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">control of Genmab including overall commercial growth, specific clinical outcomes, regulatory approvals, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">advancement of Genmab’s product pipeline and other matters. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:649.25pt;position:var(--position);text-decoration:none;white-space:pre">As such, changes in estimates of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the impact from these factors could impact Genmab’s future taxable income in a positive or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">negative manner. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, 2025, the deferred tax assets of Merus B.V. and Merus U.S. are not recognized. As a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">result of the ProfoundBio integration activities, Genmab, based on current business plans and estimates of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">future taxable income, recognized a significant portion of previously unrecognized deferred tax assets </span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">during 2024.</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">2.5 - Profit Per Share</span><div style="position:var(--position);top:241.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">963<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">(Shares)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of shares </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">outstanding</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">64,721,175<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">66,139,029<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">66,023,437<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of treasury shares</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.78pt"></span></span><span style="left:30.41pt;position:var(--position)">(2,570,090)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.78pt"></span></span><span style="left:30.41pt;position:var(--position)">(1,952,382)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(713,693)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of shares excl. </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">treasury shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">62,151,085<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">64,186,647<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">65,309,744<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Adjustments for share-based instruments, </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">dilution</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">540,545<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">469,339<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">587,833<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of shares, </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">diluted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">62,691,630<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">64,655,986<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">65,897,577<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:131.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Basic net profit per share</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">15.50</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">17.66</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:53.83pt;position:var(--position);text-decoration:none;white-space:pre">9.67</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:143.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Diluted net profit per share</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">15.37</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">17.53</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:53.83pt;position:var(--position);text-decoration:none;white-space:pre">9.58</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:409.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In the calculation of the diluted net profit per share for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:617.39pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:635.15pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:639.59pt;position:var(--position);text-decoration:none;white-space:pre">1,067,239</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:675.11pt;position:var(--position);text-decoration:none;white-space:pre"> potential ordinary shares related to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:420.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">share-based instruments have been excluded as they are anti-dilutive, compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:723.53pt;position:var(--position);text-decoration:none;white-space:pre">788,967</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:752.39pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:770.15pt;position:var(--position);text-decoration:none;white-space:pre">248,649</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:799.01pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:431.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:438.05pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:455.81pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:473.57pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:491.33pt;position:var(--position);text-decoration:none;white-space:pre">, respectively. </span></div><div style="position:var(--position);top:450.97pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-243" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:473.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Basic Net Profit Per Share</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Basic net profit per share is calculated as the net profit for the period divided by the weighted average </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:495.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">number of outstanding ordinary shares, excluding treasury shares.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:514.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Diluted Net Profit Per Share</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:526.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Diluted net profit per share is calculated as the net profit for the period divided by the weighted average </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:537.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">number of outstanding ordinary shares, excluding treasury shares and adjusted for the dilutive effect of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:548.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">share equivalents.</span></div> <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue by type:</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Royalties</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,102</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,517</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,989</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net product Sales</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">398</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">253</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">61</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Reimbursement revenue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">53</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">144</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">124</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Milestone revenue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">97</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">145</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">171</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Collaboration revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">70</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">62</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">45</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,720</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,121</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,390</span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:111pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue by collaboration partner:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:123pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Janssen</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:123pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,565</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:123pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,091</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:123pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,734</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:135pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">AbbVie</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:135pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:135pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">58</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:135pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">106</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:147pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Roche</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">106</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">107</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">102</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:159pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Novartis</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:159pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">446</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:159pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">408</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:159pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">219</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:171pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">BioNTech</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:171pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">40</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:171pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">127</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:171pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.64pt;position:var(--position);text-decoration:none;white-space:pre">114</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:183pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Pfizer</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:22.33pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:183pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">77</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:183pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">77</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:183pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">54</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:197.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">22</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:209.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:bold;left:21.11pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,322</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,868</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,329</span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:239.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Royalties by product:</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:251.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DARZALEX</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:251.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,443</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:251.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,019</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:251.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,635</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:263.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Kesimpta</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:263.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">443</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:263.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">323</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:263.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">217</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:275.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">TEPEZZA</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:275.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">105</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:275.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">106</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:275.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">102</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:287.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:22.009999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:287.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.23pt;position:var(--position);text-decoration:none;white-space:pre">111</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:287.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">69</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:287.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:5.25pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">35</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:301.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:301.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,102</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:301.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">2,517</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:301.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,989</span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:531.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Pzifer acquired Seagen in December 2023 </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:540.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Excludes Genmab’s Net product sales</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:549.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Other consist of royalties from net sales of RYBREVANT, TECVAYLI, TALVEY and TEPKINLY</span></div> 3102000000 2517000000 1989000000 398000000 253000000 61000000 53000000 144000000 124000000 97000000 145000000 171000000 70000000 62000000 45000000 3720000000 3121000000 2390000000 2565000000 2091000000 1734000000 66000000 58000000 106000000 106000000 107000000 102000000 446000000 408000000 219000000 40000000 127000000 114000000 77000000 77000000 54000000 22000000 0 0 3322000000 2868000000 2329000000 2443000000 2019000000 1635000000 443000000 323000000 217000000 105000000 106000000 102000000 111000000 69000000 35000000 3102000000 2517000000 1989000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes revenue when its customer obtains control of promised goods or services, in an </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">amount that reflects the consideration that it expects to receive in exchange for those goods or services. To </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">determine revenue recognition for arrangements that Genmab determines are within the scope of IFRS 15, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:173.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:184.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:195.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">satisfies a performance obligation. Genmab only applies the five-step model to contracts when it is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:206.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">probable that the Company will collect the consideration it is entitled to in exchange for the goods or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:217.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">services it transfers to the customer. At contract inception, once the contract is determined to be within the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:228.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">scope of IFRS 15, Genmab assesses the goods and services promised within each contract and identifies </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:239.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">as a performance obligation each good or service that is distinct. Revenue is recognized in the amount of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:250.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the transaction price that is allocated to the respective performance obligation when (or as) the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:261.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">performance obligation is satisfied.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:280.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Royalties: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:471.96999999999997pt;position:var(--position);text-decoration:none;white-space:pre">Certain of Genmab’s license and collaboration agreements include sales-based royalties </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">based on the level of sales. The license has been deemed to be the predominant item to which the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:302.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">royalties relate under Genmab’s license and collaboration agreements. As a result, Genmab recognizes </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:313.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">revenue when the related sales occur.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:332.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Net Product Sales:</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:506.44pt;position:var(--position);text-decoration:none;white-space:pre"> Revenue from the sale of goods is recognized when control is transferred to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">customer and it is probable that Genmab will collect the consideration to which it is entitled for transferring </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the products. Control of the products is transferred at a single point in time which occurs upon delivery to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the customer. The amount of sales to be recognized is based on the consideration Genmab expects to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">receive in exchange for its goods. When sales are recognized, an estimate for a variety of sales deductions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is also recorded such as cash discounts, government rebates, chargebacks, wholesaler fees, other rebates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:398.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and administrative fees, sales returns and allowances and other sales discounts. Sales deductions are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:409.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">estimated and recognized as a reduction of gross product sales to arrive at net product sales, by assessing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:420.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the expected value of the sales deductions (variable consideration). Sales deductions are estimated and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:431.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">provided for at the time the related sales are recorded. Genmab’s estimates related to sales deductions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:442.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">require significant use of estimates as not all conditions are known at the time of sale. The estimates are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:453.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">based on analyses of existing contractual obligations, historical experience, drug product analogs and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:464.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">payer channel mix. Genmab considers the provisions established for sales deductions to be reasonable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:475.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and appropriate based on currently available information; however, the actual amount of deductions may </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:486.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">differ from the amounts estimated by Management as more information becomes available. Estimates will </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:497.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">be assessed each period and adjusted as required based on updated information and actual experience.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:513.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">When Genmab is determined to be the principal in sales to end customers, all product sales are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:524.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net product sales in the Consolidated Statements of Comprehensive Income. As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:720.44pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:790.5899999999999pt;position:var(--position);text-decoration:none;white-space:pre">, all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:535.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net product sales relate to sales of EPKINLY in the US and Japan and Tivdak in Japan and Germany, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:546.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">pursuant to the Collaboration Agreements with AbbVie and Pfizer, respectively.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Reimbursement Revenue for R&amp;D Services: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:226.21pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s research collaboration agreements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">include provisions for reimbursement or cost sharing for R&amp;D services and payment for full time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equivalents (“FTEs”) at contractual rates. R&amp;D services are performed and satisfied over time given that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the customer simultaneously receives and consumes the benefits provided by Genmab and revenue for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">research services is recognized over time rather than at a point in time.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Milestone Revenue: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:123.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre">Certain of Genmab’s license and collaboration agreements include development, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">regulatory and commercial milestone payments based on the level of sales. At the inception of each </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">arrangement that includes milestone payments, Genmab evaluates whether the achievement of milestones </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">is considered highly probable and estimates the amount to be included in the transaction price using the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">most likely amount method. If it is highly probable that a significant revenue reversal would not occur, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">associated milestone value is included in the transaction price. Milestone payments that are not within the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:236.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">control of Genmab or the license and collaboration partner, such as regulatory approvals, are not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">considered probable of being achieved until those approvals are received. The transaction price is then </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:258.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">allocated to each performance obligation on a relative stand-alone selling price basis, for which Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:269.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:280.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">each subsequent reporting period, Genmab re-evaluates the probability of achievement of such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development milestones and commercial milestones and any related constraint, and if necessary, adjusts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:302.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:313.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">basis, which would affect revenue and earnings in the period of adjustment. Under all of Genmab’s existing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:324.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">license and collaboration agreements, milestone payments have been allocated to the license transfer </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performance obligation.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:354.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Collaboration Revenue:</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:137.74pt;position:var(--position);text-decoration:none;white-space:pre"> Collaboration revenue includes the result of profit sharing arrangements for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the sale of commercial products by our collaboration partners. When Genmab’s collaboration partner is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">determined to be the principal in sales to end customers, Genmab’s share of profits for the sale of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">commercial products is included in collaboration revenue.</span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:403.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">License Revenue for Intellectual Property: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:219.2pt;position:var(--position);text-decoration:none;white-space:pre">If the license to Genmab’s functional intellectual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">property is determined to be distinct from the other performance obligations identified in the arrangement, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab recognizes revenues from non-refundable upfront fees allocated to the license at the point in time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the license is transferred to the licensee and the licensee is able to use and benefit from the license. For </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:447.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">licenses that are bundled with other promises, Genmab utilizes judgement to assess the nature of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">combined performance obligation to determine whether the combined performance obligation is satisfied </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:480.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of recognizing revenue from non-refundable, upfront fees. Under all of Genmab’s existing license and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:491.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">collaboration agreements the license to functional intellectual property has been determined to be distinct </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:502.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">from other performance obligations identified in the agreement.</span></div> 1 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:76.5pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.37pt;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.75pt;position:var(--position);text-decoration:none;white-space:pre">Non-current </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.28pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.37pt;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.75pt;position:var(--position);text-decoration:none;white-space:pre">Non-current </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.28pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.37pt;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.75pt;position:var(--position);text-decoration:none;white-space:pre">Non-current </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.28pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:20.25pt;width:100.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:100.5pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.91pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:20.25pt;width:100.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:100.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.91pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:20.25pt;width:100.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:100.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:41.91pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Denmark</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,326<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,791<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,868<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,779<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,329<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:31.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">75<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Netherlands</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">7,512<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">108<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">130<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">United States</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">459<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">131<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">447<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">55<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:55.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">56<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Japan</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">213<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">122<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:67.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">China</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:79.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:76.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:76.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:76.5pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,720<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">9,780<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,121<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,390<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:91.5pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">269<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 3326000000 1791000000 2868000000 1779000000 2329000000 75000000 1000000 7512000000 0 108000000 0 130000000 180000000 459000000 131000000 447000000 55000000 56000000 213000000 12000000 122000000 14000000 6000000 8000000 0 6000000 0 7000000 0 0 3720000000 9780000000 3121000000 2355000000 2390000000 269000000 9780000000 1728000000 7394000000 355000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Geographi</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:463.8pt;position:var(--position);text-decoration:none;white-space:pre">cal information is presented for Genmab’s revenue and non-current assets. Revenue is </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">attributed to countrie</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:499.31pt;position:var(--position);text-decoration:none;white-space:pre">s on the basis of the location of the legal entity holding the contract with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">counterparty. Non-current assets comprise intangible assets, goodwill, property and equipment, right-of-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:443.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">use assets, and receivables.</span></div> <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Wages and salaries</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">547<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">460<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">381<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">128<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">105<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">85<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Defined contribution plans</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">34<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other social security costs</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">77<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">58<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">49<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Government grants related to research and </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">development expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(23)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(22)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(25)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:80.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:80.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">763<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:80.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:80.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">515<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:92.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Staff costs are included in the Consolidated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Statements of Comprehensive Income as </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">follows:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost of product sales</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">436<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">366<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">291<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">323<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">263<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">224<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:158.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">763<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">515<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:170.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Average number of FTE</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:170.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,694<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:170.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,535<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:170.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,011<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:182.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Number of FTE at year-end</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:182.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,029<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:182.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,682<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:182.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,204<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 547000000 460000000 381000000 128000000 105000000 85000000 34000000 30000000 25000000 77000000 58000000 49000000 -23000000 -22000000 -25000000 763000000 631000000 515000000 4000000 2000000 0 436000000 366000000 291000000 323000000 263000000 224000000 763000000 631000000 515000000 2694 2535 2011 3029 2682 2204 58000000 <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Staff costs</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Wa</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:48.55pt;position:var(--position);text-decoration:none;white-space:pre">ges and salaries, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.15pt;position:var(--position);text-decoration:none;white-space:pre">other social security costs, paid leave and bonuses, and other employee benefits are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognized in the financial year in which the employee performs the associated work.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:473.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s pension plans are classified as defined contribution plans and, accordingly, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:341.56pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:350.44pt;position:var(--position);text-decoration:none;white-space:pre"> pension </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">obligations are recognized in the balance sheet. Costs relating to defined contribution plans are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:495.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the income statement in the period in which they are accrued, and outstanding contributions are included in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:506.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">other payables.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:523.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Termination benefits are recognized as an expense, when Genmab is committed demonstrably, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:534.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">without realistic possibility of withdrawal, to a formal detailed plan to terminate employment.</span></div> 0 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current tax on profit</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">256<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">261<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">189<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Adjustment to deferred tax</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(63)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(9)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net increase (decrease) of unrecognized </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deferred tax assets for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">51<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(84)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax for the period in the income </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">statement</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">241<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">193<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">186<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div><div style="position:var(--position);top:241.57pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit before tax</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.53pt"></span></span><span style="left:44.160000000000004pt;position:var(--position)">1,204<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.53pt"></span></span><span style="left:44.160000000000004pt;position:var(--position)">1,326<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">817<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tax at the Danish corporation tax rate of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">22%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:18.26pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> for all periods</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">265<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">292<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tax effect of:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net increase (decrease) of unrecognized </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deferred tax assets for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.63pt"></span></span><span style="left:55.260000000000005pt;position:var(--position)">51<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(84)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net of non-taxable income over non-</span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">deductible expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(36)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.63pt"></span></span><span style="left:55.260000000000005pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current and deferred tax adjustments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(36)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(30)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.41pt"></span></span><span style="left:57.04pt;position:var(--position)">(1)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.41pt"></span></span><span style="left:57.04pt;position:var(--position)">(3)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:53.51pt"></span></span><span style="left:56.14pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax effect</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(24)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.97pt"></span></span><span style="left:52.6pt;position:var(--position)">(99)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax for the period in the income </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">statement</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">241<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">193<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:48.19pt"></span></span><span style="left:50.82pt;position:var(--position)">186<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:155.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total tax for the period in shareholders' </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">equity</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.41pt"></span></span><span style="left:57.04pt;position:var(--position)">(3)<span style="display:inline-block;height:5.82pt;width:4.45pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.07pt"></span></span><span style="left:59.7pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:7.11pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:176.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effective Tax Rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:176.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:48.6pt;position:var(--position)"></span><span style="left:48.6pt;position:var(--position)">20.0</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:176.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.6pt;position:var(--position)"></span><span style="left:48.6pt;position:var(--position)">14.6</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:176.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.6pt;position:var(--position)"></span><span style="left:48.6pt;position:var(--position)">22.8</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr></tbody></table></div></div></div> 256000000 261000000 189000000 -63000000 14000000 -9000000 51000000 -84000000 6000000 -3000000 2000000 0 241000000 193000000 186000000 1204000000 1326000000 817000000 0.22 0.22 0.22 265000000 292000000 180000000 51000000 -84000000 6000000 -36000000 13000000 1000000 -36000000 -30000000 -1000000 -3000000 2000000 0 -24000000 -99000000 6000000 241000000 193000000 186000000 -3000000 7000000 8000000 0.200 0.146 0.228 241000000 193000000 186000000 -3000000 7000000 8000000 360000000 319000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Significant components of the deferred tax asset(liability) are as follows:</span><div style="position:var(--position);top:191.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:380.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:164.25pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based instruments</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">52<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Deferred revenue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Intangible assets</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(410)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(409)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(9)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tax losses and credits carried forward</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other temporary differences</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">86<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">95<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:164.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:164.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:164.25pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(193)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(203)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">31<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:71.25pt"></td><td style="padding:0;width:49.5pt"></td><td style="padding:0;width:36.75pt"></td><td style="padding:0;width:42.75pt"></td><td style="padding:0;width:42.75pt"></td><td style="padding:0;width:42.75pt"></td><td style="padding:0;width:49.5pt"></td><td style="padding:0;width:42.75pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);width:49.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.55pt;position:var(--position);text-decoration:none;white-space:pre">Share-</span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.2pt;position:var(--position);text-decoration:none;white-space:pre">based </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.99pt;position:var(--position);text-decoration:none;white-space:pre">instruments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);width:36.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.31pt;position:var(--position);text-decoration:none;white-space:pre">Deferred </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.37pt;position:var(--position);text-decoration:none;white-space:pre">revenue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.73pt;position:var(--position);text-decoration:none;white-space:pre">Intangible </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.78pt;position:var(--position);text-decoration:none;white-space:pre">assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.56pt;position:var(--position);text-decoration:none;white-space:pre">Liabilities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.2pt;position:var(--position);text-decoration:none;white-space:pre">Tax </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.78pt;position:var(--position);text-decoration:none;white-space:pre">losses </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.13pt;position:var(--position);text-decoration:none;white-space:pre">carried </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.65pt;position:var(--position);text-decoration:none;white-space:pre">forward</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);width:49.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.89pt;position:var(--position);text-decoration:none;white-space:pre">Other </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:10.23pt;position:var(--position);text-decoration:none;white-space:pre">temporary </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.89pt;position:var(--position);text-decoration:none;white-space:pre">differences</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);width:42.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.22pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:39.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the beginning of </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:50.25pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:50.25pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(409)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:50.25pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">95<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:50.25pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(203)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:90pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Recognised in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Profit or Loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:90pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:90pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:29.61pt"></span></span><span style="left:32.24pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:25.17pt"></span></span><span style="left:27.8pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:90pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.36pt"></span></span><span style="left:38.99pt;position:var(--position)">(9)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:90pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:111pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquired in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Business </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Combinations</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:111pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:111pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:111pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:111pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:141pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the end of the </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">year</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:141pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">52<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:141pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(410)</span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:141pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">86<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:141pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(193)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:192.75pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:39.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:204.75pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the beginning of </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:204.75pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.02pt"></span></span><span style="left:41.650000000000006pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:204.75pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:29.61pt"></span></span><span style="left:32.24pt;position:var(--position)">(9)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:204.75pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:204.75pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">31<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:244.5pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Recognised in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Profit or Loss</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:244.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:244.5pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:25.17pt"></span></span><span style="left:27.8pt;position:var(--position)">(52)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:244.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">79<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:244.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.39pt"></span></span><span style="left:26.02pt;position:var(--position)">114<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:265.5pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquired in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Business </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Combinations</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:265.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:265.5pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:22.71pt"></span></span><span style="left:25.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(348)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:28.71pt"></span></span><span style="left:31.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:265.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.46pt"></span></span><span style="left:38.09pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:265.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(348)</span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:295.5pt;width:71.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net deferred tax </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">asset/(liability) at </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the end of the </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:71.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:71.25pt;position:var(--position);top:295.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:120.75pt;position:var(--position);top:295.5pt;width:36.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:36.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.83pt"></span></span><span style="left:24.459999999999997pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:157.5pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(409)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:200.25pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.27pt"></span></span><span style="left:34.900000000000006pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.83pt"></span></span><span style="left:30.459999999999997pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:285.75pt;position:var(--position);top:295.5pt;width:49.5pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:49.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.58pt"></span></span><span style="left:37.21pt;position:var(--position)">95<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:295.5pt;width:42.75pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:42.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:20.73pt"></span></span><span style="left:23.36pt;position:var(--position)">(203)</span></span></div></div></div></td></tr></tbody></table></div></div></div> 52000000 38000000 5000000 16000000 16000000 16000000 -410000000 -409000000 -9000000 30000000 9000000 3000000 33000000 48000000 0 86000000 95000000 16000000 -193000000 -203000000 31000000 38000000 16000000 -409000000 9000000 48000000 95000000 -203000000 14000000 0 -1000000 21000000 -15000000 -9000000 10000000 0 0 0 0 0 0 0 52000000 16000000 -410000000 30000000 33000000 86000000 -193000000 5000000 16000000 -9000000 3000000 0 16000000 31000000 33000000 0 -52000000 6000000 48000000 79000000 114000000 0 0 -348000000 0 0 0 -348000000 38000000 16000000 -409000000 9000000 48000000 95000000 -203000000 1600000000 100000000 100000000 <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Corporate</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:82.21000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> Tax</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:215.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Corporate tax, which consists of current tax and deferred taxes for the year, is recognized in the income </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:226.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">statement, except to the extent that the tax is attributable to items which directly relate to shareholders’ </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:237.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equity or other comprehensive income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:256.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Current tax assets and liabilities for current and prior periods are measured at the amounts expected to be </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:267.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recovered from or paid to the tax authorities.</span></div> <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred Tax</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:297.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax accounting requires recognition of deferred tax on all temporary differences between the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:308.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">carrying amount of assets and liabilities and the tax base of such assets and liabilities. This includes the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">tax value of certain tax losses carried forward.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:338.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax is calculated in accordance with the tax regulations in the local countries and the tax rates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:349.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expected to be in force at the time the deferred tax is utilized. Changes in deferred tax as a result of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:360.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">changes in tax rates are recognized in the income statement.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:379.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax assets resulting from temporary differences, including the tax value of losses to be carried </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:390.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">forward, are recognized only to the extent that it is probable that future taxable profit will be available </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:401.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">against which the differences can be utilized.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:420.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Deferred tax liabilities are recognized for taxable temporary differences that arise when the carrying </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:431.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount of an asset exceeds its tax basis or the carrying amount of a liability is less than its tax base.</span></div> <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net profit</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">963<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">631<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">(Shares)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of shares </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">outstanding</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">64,721,175<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">66,139,029<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">66,023,437<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of treasury shares</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.78pt"></span></span><span style="left:30.41pt;position:var(--position)">(2,570,090)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.78pt"></span></span><span style="left:30.41pt;position:var(--position)">(1,952,382)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(713,693)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of shares excl. </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">treasury shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">62,151,085<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">64,186,647<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">65,309,744<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Adjustments for share-based instruments, </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">dilution</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">540,545<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">469,339<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">587,833<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Weighted average number of shares, </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">diluted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">62,691,630<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">64,655,986<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:26pt"></span></span><span style="left:28.63pt;position:var(--position)">65,897,577<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:131.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Basic net profit per share</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">15.50</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">17.66</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:53.83pt;position:var(--position);text-decoration:none;white-space:pre">9.67</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:143.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Diluted net profit per share</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">15.37</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">17.53</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:53.83pt;position:var(--position);text-decoration:none;white-space:pre">9.58</span></div></div></div></td></tr></tbody></table></div></div> 963000000 1133000000 631000000 64721175 66139029 66023437 2570090 1952382 713693 62151085 64186647 65309744 540545 469339 587833 62691630 64655986 65897577 15.50 17.66 9.67 15.37 17.53 9.58 1067239 788967 248649 <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Basic Net Profit Per Share</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:484.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Basic net profit per share is calculated as the net profit for the period divided by the weighted average </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:495.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">number of outstanding ordinary shares, excluding treasury shares.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:514.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Diluted Net Profit Per Share</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:526.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Diluted net profit per share is calculated as the net profit for the period divided by the weighted average </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:537.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">number of outstanding ordinary shares, excluding treasury shares and adjusted for the dilutive effect of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:548.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">share equivalents.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Section 3 - Operating Assets </span><div style="font-size:12pt;line-height:25pt;position:var(--position);top:135.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and Liabilities</span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:174.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">This section covers the operating assets and related liabilities that form </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:188.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the basis for Genmab’s activities. Deferred tax assets and liabilities are </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:202.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">included in</span><span style="color:#691a6b;font-family:'null', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:94.18pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Meta OT', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:97.50999999999999pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_870" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Meta OT', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:122.00999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:124.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:141.44pt;position:var(--position);text-decoration:none;white-space:pre">. Assets related to Genmab’s financing activities </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:216.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are shown in section 4.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.1 - Other Intangible Assets and Goodwill</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:254.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The increase in the gross carrying value of other intangible assets during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.11pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:313.87pt;position:var(--position);text-decoration:none;white-space:pre"> was primarily due to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:265.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">addition of intangible assets from the acquisition of Merus, includ</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:265.47pt;position:var(--position);text-decoration:none;white-space:pre">ing </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:278.34000000000003pt;position:var(--position);text-decoration:none;white-space:pre">$6,927 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:327.6pt;position:var(--position);text-decoration:none;white-space:pre"> of in-process research </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:276.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and development (IPR&amp;D) related to petosemtamab (Peto), </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.06pt;position:var(--position);text-decoration:none;white-space:pre">$369 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:291.66pt;position:var(--position);text-decoration:none;white-space:pre"> related to the acquired Merus </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:287.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">technology platform and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:124.31pt;position:var(--position);text-decoration:none;white-space:pre">$82 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:162.47pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:164.69pt;position:var(--position);text-decoration:none;white-space:pre">related to other licenses and patents.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:306.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As a not-yet-in-use IPR&amp;D asset, Peto, is not currently being amortized. Amortization will be recognized on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">a straight-line basis upon regulatory approval. The acquired Merus technology platform asset is being </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amortized over its estimated useful life of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:183.79pt;position:var(--position);text-decoration:none;white-space:pre">13 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:214.43pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Peto is monitored for impairment throughout the year and tested for impairment on at least an annual basis </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">during the fourth quarter of the year. An impairment test was performed following the acquisition of Merus </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and no impairment losses were recognized.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:388.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The increase in the gross carrying value of other intangible assets during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.11pt;position:var(--position);text-decoration:none;white-space:pre">2024 was primarily due to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:399.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">intangibles assets from the acquisition of ProfoundBio, including Rina-S and the ADC technology platform.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:411.09000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The ADC technology platform is amortized on a straight-line basis over its estimated useful life of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:380.45000000000005pt;position:var(--position);text-decoration:none;white-space:pre">15 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:411.09000000000003pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.28pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.43pt;position:var(--position);text-decoration:none;white-space:pre">, the asset has a remaining useful life of approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:322.32000000000005pt;position:var(--position);text-decoration:none;white-space:pre">14 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:352.96000000000004pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:440.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Rina-S, a not-yet in use IPR&amp;D asset acquired as a part of the 2024 ProfoundBio acquisition, has a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:451.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">carrying value o</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:93.23pt;position:var(--position);text-decoration:none;white-space:pre">f </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:97.67pt;position:var(--position);text-decoration:none;white-space:pre">$1,532 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:146.93pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:168.69pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:238.84pt;position:var(--position);text-decoration:none;white-space:pre">. As a not-yet in use IPR&amp;D asset, Rina-S is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:462.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not currently being amortized. Amortization will be recognized on a straight-line basis upon regulatory </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:473.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">approval. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:492.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Rina-S is monitored for impairment throughout the year and tested for impairment on at least an annual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:503.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">basis during the fourth quarter of the year. The annual impairment review indicated that the recoverable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:514.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount in the forecast period for Rina-S significantly exceeds the carrying amount. The recoverable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:525.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount is estimated based on value in use (VIU), with VIU being estimated at net present value using an </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:536.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income approach</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.12pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.11pt;position:var(--position);text-decoration:none;white-space:pre">5.5</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1"> </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:490.43pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">for additional details on acquired</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:605.39pt;position:var(--position);text-decoration:none;white-space:pre"> intangibles assets from the Merus and ProfoundBio </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:117.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acquisitions.</span></div><div style="position:var(--position);top:134.92pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:126.75pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.98pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.53pt;position:var(--position);text-decoration:none;white-space:pre">Licenses </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.14pt;position:var(--position);text-decoration:none;white-space:pre">and Patents</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.55pt;position:var(--position);text-decoration:none;white-space:pre">Technology </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.24pt;position:var(--position);text-decoration:none;white-space:pre">Platform</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.14pt;position:var(--position);text-decoration:none;white-space:pre">Acquired </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.31pt;position:var(--position);text-decoration:none;white-space:pre">IPR&amp;D</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.72pt;position:var(--position);text-decoration:none;white-space:pre">Total </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.23pt;position:var(--position);text-decoration:none;white-space:pre">Intangible </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.04pt;position:var(--position);text-decoration:none;white-space:pre">Assets</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the beginning of the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">149<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,532<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,216<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">115<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">369<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">6,927<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">7,411<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">20<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">268<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">550<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">8,474<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">9,647<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the beginning of the year</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">126<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Impairment losses for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">148<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">169<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:167.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at the end of </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">120<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">529<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">8,474<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">9,478<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:204pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:216pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the beginning of the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:228pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">354<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">24<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,536<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,094<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(9)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(4)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.67pt"></span></span><span style="left:35.300000000000004pt;position:var(--position)">(12)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:252pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">149<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,532<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,216<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:264pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the beginning of the year</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:285pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:297pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Impairment losses for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:309pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(7)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(8)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:321pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">126<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:342pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at the end of </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">23<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">173<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,532<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,083<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The impairment losses recognized during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:185.12pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:202.88pt;position:var(--position);text-decoration:none;white-space:pre"> relate to licenses and patents and were primarily </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">attributable to other intangible assets associated with the acasunlimab program, which was terminated in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the fourth quarter of 2025. The impairment losses during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:238.25pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:256.01pt;position:var(--position);text-decoration:none;white-space:pre"> were related to licenses and patents, which </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">were not material. The impairment losses for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:196.51pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:214.26999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:232.03pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.79pt;position:var(--position);text-decoration:none;white-space:pre"> were recognized in Research </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and development expenses in the Consolidated Statements of Comprehensive Income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Amortization expense was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:132.31pt;position:var(--position);text-decoration:none;white-space:pre">$16 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:170.47pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:172.69pt;position:var(--position);text-decoration:none;white-space:pre">$11 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:210.26pt;position:var(--position);text-decoration:none;white-space:pre">, and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:230.23999999999998pt;position:var(--position);text-decoration:none;white-space:pre">$8 million</span><span style="color:#ff0090;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:263.96000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:266.18pt;position:var(--position);text-decoration:none;white-space:pre">for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:277.72pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:295.48pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:299.92pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:317.68pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:335.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:353.20000000000005pt;position:var(--position);text-decoration:none;white-space:pre">, respectively, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">which was recorded in Research and development expenses in the Consolidated Statements of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Comprehensive Income. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:211.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:224.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The carrying amount of goodwill was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:168.69pt;position:var(--position);text-decoration:none;white-space:pre">$355 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:211.29pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:233.04999999999998pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:303.20000000000005pt;position:var(--position);text-decoration:none;white-space:pre">, due to the acquisition </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:235.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of ProfoundBio (refer to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:122.08000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:139.83pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:142.05pt;position:var(--position);text-decoration:none;white-space:pre">5.5</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:153.15pt;position:var(--position);text-decoration:none;white-space:pre">), and was unchanged from December 31, 2024.. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:328.97pt;position:var(--position);text-decoration:none;white-space:pre">No</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:339.18pt;position:var(--position);text-decoration:none;white-space:pre"> impairment of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:246.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">goodwill was recognized in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:134.06pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:151.82pt;position:var(--position);text-decoration:none;white-space:pre"> as the annual impairment test showed that the estimated recoverable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:257.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount exceeded the carrying amount of the cash-generating unit (CGU) to which all of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:268.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">goodwill was allocated.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:287.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill is monitored for impairment</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:166.45pt;position:var(--position);text-decoration:none;white-space:pre"> at the operating segment level,</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:277.88pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:280.1pt;position:var(--position);text-decoration:none;white-space:pre">which is the lowest level CGU to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:298.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">which consolidated goodwill is allocated and monitored by Management. Genmab operates as a single </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:309.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">CGU, reflecting its single operating segment. The recoverable amount is estimated based on VIU, with VIU </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:320.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">being estimated at net present value using an income approach. The applied discount rate is </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:365.68pt;position:var(--position);text-decoration:none;white-space:pre">8.6%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:383.89000000000004pt;position:var(--position);text-decoration:none;white-space:pre">. Cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:331.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">flow projections are based on Management-approved forecasts. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:264.47pt;position:var(--position);text-decoration:none;white-space:pre">The forecast period comprises </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:374.13pt;position:var(--position);text-decoration:none;white-space:pre">10 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:404.77000000000004pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:342.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management considers the use of a forecast period longer than </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:263.28000000000003pt;position:var(--position);text-decoration:none;white-space:pre">five years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:297.47pt;position:var(--position);text-decoration:none;white-space:pre"> to be appropriate given the long-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">term nature of pharmaceutical development and commercialization cycles and the expected duration of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:364.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">economic benefits from the underlying assets. No terminal growth rate was applied, and the growth rate </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:375.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">was not considered a material input in the VIU calculation.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The key estimations relate to volume of market share, pricing, development of new markets and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:405.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">success rate for introducing new products and treatments. Assumptions are affected by external factors </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">such as market and generic competition, and price regulation.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:254.82999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> VIU is determined using largely </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">unobservable inputs.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:446.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management has performed sensitivity analyses on the key assumptions used in the VIU calculation. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:457.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Reasonably possible changes in the key assumptions, individually or in combination, would not result in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">carrying amount exceeding the recoverable amount, and accordingly no impairment would be required.</span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-247" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Research and Development Projects</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Internal and subcontracted research costs are charged in full to research and development expenses in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income in the period in which they are incurred. Development </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">costs are also expensed until regulatory approval is obtained or is probable. Genmab has no internally </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:175.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">generated intangible assets from development, as the criteria for recognition of an intangible asset are not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:186.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">met. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab acquires licenses and rights primarily to gain access to targets and technologies identified by third </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">parties. Payments to third parties under collaboration and license agreements are assessed to determine </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">whether such payments should be expensed as incurred as research and development expenses or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">capitalized as an intangible asset. Licenses and rights that meet the criteria for capitalization as intangible </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">assets are measured at cost less accumulated amortization and any impairment losses. Milestone </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">payments related to capitalized licenses and rights are accounted for as an increase in the cost to acquire </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">licenses and rights. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">For acquired research and development projects, and intellectual property rights, including acquisition in a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">business combination, the likelihood of obtaining future commercial sales is reflected in the cost of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">asset, and thus the probability recognition criteria is always considered to be satisfied. As the cost </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of acquired research and development projects can often be measured reliably, these projects fulfil the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">capitalization criteria as intangible assets on acquisition. Development costs incurred subsequent to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acquisition are treated consistently with internal project development costs.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:364.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:377.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill represents the excess of purchase price over the fair value of net identifiable assets acquired and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:388.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">liabilities assumed in a business combination accounted for by the acquisition method of accounting. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:399.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill is allocated to each of the group’s CGU (or groups of CGUs) expected to benefit from the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">synergies of the combination. Genmab consists of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:605.45pt;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:618.77pt;position:var(--position);text-decoration:none;white-space:pre"> single CGU which represents its single operating </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">segment. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:440.17pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Recognition and Measurement </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Intangible assets are initially measured at cost and are subsequently measured at cost less any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">accumulated amortization and any impairment loss. Goodwill is not amortized but is subject to impairment </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:474.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">testing. </span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:493.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Amortization </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:505.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Intangible assets with definite useful lives are amortized based on the straight-line method over their </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:516.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">estimated useful lives. This corresponds to the legal duration or the economic useful life depending </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:527.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">on which is shorter. The amortization of intellectual property rights, including IPR&amp;D, commences </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:538.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">after regulatory approval has been obtained or when assets are put in use. </span></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:326.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:309pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-249" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:309pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:309pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Impairment Assessment of Goodwill and Other Intangible Assets</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab performs its annual test of goodwill and indefinite-lived intangible assets for impairment in its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">fiscal fourth quarter.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:106.99000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> Indefinite-lived intangible assets and the CGU including goodwill are monitored for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">indicators of impairment throughout the year. If indicators of impairment exist, then an impairment test is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performed. T</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:82.43pt;position:var(--position);text-decoration:none;white-space:pre">he recoverable amount of certain intangible assets was determined using VIU</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:356.35pt;position:var(--position);text-decoration:none;white-space:pre">. The VIU used </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in impairment tests is based on Management’s projections and anticipated net present value of estimated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">future cash flows from marketable products and products in development. Goodwill and intangible assets </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:207.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not yet available for use are tested for impairment at least annually or when indicators of impairment are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">identified. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.24000000000001pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill is allocated to the single operating segment.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:261.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> The discount rate used is based on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Group WACC, adjusted where appropriate, to reflect the risk of the specific asset tested. VIU is determined </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:240.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">using largely unobservable inputs. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:259.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Assets that are subject to amortization are reviewed for impairment whenever events or changes in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">circumstances indicate that the carrying amount may not be recoverable. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:289.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Factors considered material that could trigger an impairment test include the following:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:308.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Development of a competing drug </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Realized sales trending below predicted sales </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:338.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Inconsistent or unfavorable clinical readouts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Changes in the legal framework covering patents, rights, and licenses </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:368.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Advances in medicine and/or technology that affect the medical treatments </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:383.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Adverse impact on reputation and/or brand names</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">An impairment loss is recognized in Consolidated Statements of Comprehensive Income as research </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and development expenses when the carrying amount of intangible assets exceeds the recoverable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amount. Impairments on intangible assets, other than goodwill, are reviewed at each reporting date </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">for possible reversal</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:108.32pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">3.2 - Property and Equipment</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">Leasehold </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.15pt;position:var(--position);text-decoration:none;white-space:pre">improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:28.57pt;position:var(--position);text-decoration:none;white-space:pre">Equipment, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.17pt;position:var(--position);text-decoration:none;white-space:pre">furniture and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:42.31pt;position:var(--position);text-decoration:none;white-space:pre">fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.89pt;position:var(--position);text-decoration:none;white-space:pre">Assets under </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.99pt;position:var(--position);text-decoration:none;white-space:pre">construction</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.59pt;position:var(--position);text-decoration:none;white-space:pre">Total property and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.48pt;position:var(--position);text-decoration:none;white-space:pre">equipment</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">254<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">29<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">46<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers between the </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">classes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">23<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(41)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Disposals for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(6)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(5)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(11)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:119.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">132<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">175<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">310<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:30pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:147pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(38)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(79)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(117)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:177pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(25)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(38)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:189pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(10)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation on </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">disposals</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(48)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(109)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(157)</span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:295.5pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">84<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">66<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">153<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">Leasehold </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.15pt;position:var(--position);text-decoration:none;white-space:pre">improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:28.57pt;position:var(--position);text-decoration:none;white-space:pre">Equipment, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.17pt;position:var(--position);text-decoration:none;white-space:pre">furniture and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:42.31pt;position:var(--position);text-decoration:none;white-space:pre">fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.89pt;position:var(--position);text-decoration:none;white-space:pre">Assets under </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.99pt;position:var(--position);text-decoration:none;white-space:pre">construction</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.59pt;position:var(--position);text-decoration:none;white-space:pre">Total property and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.48pt;position:var(--position);text-decoration:none;white-space:pre">equipment</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">135<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">242<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">17<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisitions through </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">business combinations</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers between the </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">classes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(7)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:107.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Disposals for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(12)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:119.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(8)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(12)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:140.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">254<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:30pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:168pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(29)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(71)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(100)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:198pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(11)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(23)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(34)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:231pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation on </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">disposals</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:261pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(38)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(79)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(117)</span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:316.5pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">63<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">60<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">137<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:458.22pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation and impairment included in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the income statement as follows:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">31</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">29</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">20</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">7</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">5</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">7</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">38</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">34</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">27</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Capital expenditures in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:509.96pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:527.72pt;position:var(--position);text-decoration:none;white-space:pre"> were primarily related to the expansion of Genmab’s facilities in the United </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">States and Japan. Capital expenditures in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:576.5699999999999pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:594.3299999999999pt;position:var(--position);text-decoration:none;white-space:pre"> were primarily related to the expansion of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">facilities in the United States and Japan. </span></div><div style="position:var(--position);top:148.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-251" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Property and equipment is comprised of leasehold improvements, assets under construction, and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">equipment, furniture, and fixtures, which are measured at cost less accumulated depreciation and any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">impairment losses.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The cost is comprised of the acquisition price and direct costs related to the acquisition until the asset is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ready for use. Costs include direct costs and costs to subcontractors.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:241.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation is calculated on a straight-line basis to allocate the cost of the assets, net of any residual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:264.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value, over the estimated useful lives, which are as follows:</span></div><div style="position:var(--position);top:283.37pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:375pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:197.25pt"></td><td style="padding:0;width:177.75pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:197.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:197.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Equipment, furniture and fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:197.25pt;position:var(--position);width:177.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:177.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:6.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">-</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:9.49pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">5</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:13.809999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> years</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:197.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:197.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leasehold improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:197.25pt;position:var(--position);top:12pt;width:177.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:177.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">15</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:11.27pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> years or the lease term, if shorter</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:320.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation commences when the asset is available for use, including when it is in the location and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:331.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">condition necessary for it to be capable of operating in the manner intended by Management. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:342.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">useful lives and residual values are reviewed and adjusted if appropriate on a yearly basis. Assets </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">under construction are not depreciated.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:372.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Impairment</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:383.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">If circumstances or changes in Genmab’s operations indicate that the carrying amount of property </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and equipment may not be recoverable, Management performs an impairment test of the asset.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The basis for the performance of an impairment test is the recoverable amount of the asset, determined as </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the greater of the fair value less cost to sell or its value in use. Value in use is calculated as the net present </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value of future cash inflow expected to be generated from the asset.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:454.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">If the carrying amount of an asset is greater than the recoverable amount, the asset is written down to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:465.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">recoverable amount. An impairment loss is recognized in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:476.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Income when the impairment is identified.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.3 - Leases</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has entered into lease agreements with respect to office and laboratory space, vehicles, and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">IT equipment. The expense, lease liability, and right-of-use assets balances related to vehicles and IT </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equipment are immaterial. The leases are non-cancelable over various periods through 2038.</span></div><div style="position:var(--position);top:167.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Right-of-use assets</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Balance at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">128<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">102<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">75<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions to right-of-use assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:108.44999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:48pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation charge for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:48pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(17)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:48pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:48pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:60pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:60pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:60pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(7)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:60pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:72pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Balance at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:72pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">127<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:72pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">128<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:72pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">102<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:99.75pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Lease liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:111.75pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:111.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:111.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:111.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:123.75pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:123.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:123.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">131<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:123.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:151.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:151.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">152<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:151.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">144<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:151.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">114<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:163.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash outflow for lease payments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:163.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:163.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:163.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">17<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:29.25pt"><td colspan="4" style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:188.25pt;width:378pt"><div><div style="line-height:7pt;position:var(--position);top:3.19pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:11.13pt;position:var(--position);text-decoration:none;white-space:pre">Additions to right-of-use assets in 2025 related to the Merus acquisition, modifications to existing leases, lease </span></div><div style="line-height:7pt;position:var(--position);top:12.19pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:11.13pt;position:var(--position);text-decoration:none;white-space:pre">incentives, and adjustments to the provisions for contractual restoration obligations related to leases of Genmab </span></div><div style="line-height:7pt;position:var(--position);top:21.19pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:11.13pt;position:var(--position);text-decoration:none;white-space:pre">offices.</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:398.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Variable</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:65.55pt;position:var(--position);text-decoration:none;white-space:pre"> lease payments, short-term lease expense, lease interest expense, and low-value assets.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Undiscounted future minimum payments under leases are as follows:</span></div><div style="position:var(--position);top:436.22pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Payment due</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Within 1 year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1 – 3 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">47<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">40<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3 – 5 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">44<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">39<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">27<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">More than 5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">65</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">77</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">61</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">181<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">174<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-253" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">All leases are recognized in the Consolidated Balance Sheets as a right-of-use (ROU) asset with a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">corresponding lease liability, except for short-term leases in which the term is 12 months or less and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">low-value leases.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ROU assets represent Genmab’s right to use an underlying asset for the lease term and lease liabilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">represent Genmab’s obligation to make lease payments arising from the lease. The ROU asset is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">depreciated over the shorter of the asset’s useful life or the lease term on a straight-line basis. In the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income, depreciation of the ROU asset is recognized over the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">lease term in operating expenses and interest expenses related to the lease liability are classified </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in financial items.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:244.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab determines if an arrangement is a lease at inception. Genmab leases various properties </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:255.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and vehicles. Lease contracts are typically made for fixed periods. Lease terms are negotiated on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:266.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">an individual basis and contain a wide range of terms and conditions.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:285.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">are measured at amortized cost, and include the net present value of fixed payments, less any lease </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incentives receivable. As Genmab’s leases generally do not provide an implicit interest rate, Genmab uses </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">an incremental borrowing rate based on the information available at the commencement date of the lease </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:329.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in determining the present value of lease payments. Lease terms utilized by Genmab may include options </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:340.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to extend or terminate the lease when it is reasonably certain that Genmab will exercise that option. In </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:351.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">determining the lease term, Management considers all facts and circumstances that create an economic </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:362.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incentive to exercise an extension option, or not exercise a termination option. Extension options (or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">periods after termination options) are only included in the lease term if the lease is reasonably certain to be </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">extended.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:403.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ROU assets are measured at cost and include the amount of the initial measurement of the lease liability, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">any lease payments made at or before the commencement date less any lease incentives received, any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">initial direct costs, and restoration costs.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:444.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Payments associated with short-term leases and leases of low-value assets are recognized on a straight-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">line basis as an expense in the Consolidated Statements of Comprehensive Income.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.4 - Other Investments</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Publicly traded equity securities</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fund investments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Privately held equity securities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">20<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:210.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other investments includes strategic investments in publicly traded common stock of companies, including </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:221.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">common stock of companies with whom Genmab has entered into collaboration arrangements, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:232.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments in certain investment funds, as well as investments in shares of privately held companies.</span></div><div style="position:var(--position);top:251.22pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-255" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:273.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other investments are measured on initial recognition at fair value, and subsequently at fair value. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Changes in fair value are recognized in the Consolidated Statements of Comprehensive Income within </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">financial income or expense.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:314.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other investments primarily consist of investments in certain strategic investment funds. Genmab’s share </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:325.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of the fair value of these fund investments is determined based on the valuation of the underlying </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:336.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments included in the fund. Investments in publicly traded equity securities included in these strategic </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investment funds are valued based at the most recent sale price or official closing price reported on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">exchange or over-the-counter market on which they trade, while investments in non-publicly traded equity </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">securities are based on other factors, including but not limited to, type of the security, the size of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:380.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">holding, the initial cost of the security, the price and extent of public trading in similar securities of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">comparable companies, an analysis of the Company's or issuer's financial statements and with respect to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">debt securities, the maturity and creditworthiness. As such, these fund investments have been </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">characterized as Level 3 investments as fair values are based on significant unobservable inputs.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">3.5 - Inventories</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Raw materials</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Work in progress</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Finished goods</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total inventories (gross) </span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">19<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Allowances at year end</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total inventories (net) </span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:234.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:435.39pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:453.15pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:470.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.66999999999996pt;position:var(--position);text-decoration:none;white-space:pre">, allowances related to write downs of excess and obsolete inventories were immaterial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:245.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and recognized as expense within cost of product sales in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:256.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Income.</span></div><div style="position:var(--position);top:275.22pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-256" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:297.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Inventories are measured at the lower of cost and net realizable value with costs determined on a first-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:308.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in, first-out basis. Costs comprise direct and indirect costs relating to the manufacture of inventory mainly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">from third-party providers of manufacturing as well as costs related to internal resources and distribution </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:330.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and logistics. Genmab assesses the recoverability of capitalized inventories during each reporting period </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:341.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and will write down excess or obsolete inventories to their net realizable value in the period in which the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:352.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">impairment is identified. Write downs of inventory are included within Cost of product sales in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:363.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:382.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Included in inventories are materials with the intended purpose of being made available for sale. If the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:393.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">materials are later used in the production of clinical products, the materials are charged to research and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">development expense when shipped to the clinical packaging site. Materials ordered exclusively to be used </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:415.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in Genmab’s research and development process (e.g., early research/clinical trials) are immediately </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expensed to research and development as incurred.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Inventory manufactured prior to regulatory approval of a product (prelaunch inventory) is written down to its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net realizable value (that is the probable amount expected to be realized from its sale or use at the time of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">production). The amount of this write down is recognized in the Consolidated Statements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of Comprehensive Income as research and development expenses. Once there is a high probability of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:489.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">regulatory approval being obtained for the product, inventory costs begin to be capitalized. Additionally, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:500.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">write-down is reversed, up to no more than the original cost. The reversal of the write-down is recognized </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:511.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">as a reduction to research and development expenses in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:522.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Income.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.6 - Receivables</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:182.25pt"></td><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:65.25pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.88pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.88pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.54pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:11.25pt;width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:11.25pt;width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:11.25pt;width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Receivables related to collaboration agreements</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:22.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">907<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:22.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">761<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:22.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">615<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Prepayments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:34.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">65<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:34.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:34.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Trade receivables related to product sales</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:46.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">96<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:46.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">65<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:46.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">27<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Interest receivables</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:58.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.77pt"></span></span><span style="left:57.400000000000006pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:58.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">19<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:58.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other receivables</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:70.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">62<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:70.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">49<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:70.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">43<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:82.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.23pt"></span></span><span style="left:41.86pt;position:var(--position)">1,134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:82.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">930<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:82.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">743<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current receivables</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:94.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:94.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.77pt"></span></span><span style="left:57.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:94.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:106.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current receivables</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:106.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.23pt"></span></span><span style="left:41.86pt;position:var(--position)">1,112<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:106.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">923<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:106.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">733<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:118.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:118.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.23pt"></span></span><span style="left:41.86pt;position:var(--position)">1,134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:118.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">930<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:118.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">743<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">During </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:62.59pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:80.35pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.11pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:115.87pt;position:var(--position);text-decoration:none;white-space:pre">, there were</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:158.04pt;position:var(--position);text-decoration:none;white-space:pre"> immaterial and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:214.85pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:223.73pt;position:var(--position);text-decoration:none;white-space:pre"> losses, respectively, related to receivables and the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">credit risk on receivables is considered to be limited. The provision for expected credit losses was zero </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">given that there have been no cred</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:160.28pt;position:var(--position);text-decoration:none;white-space:pre">it losses over the last three years and the limited credit risk due to high-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:303.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">quality nature with high credit ratings (top tier life science companies and major distributors) of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:314.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">customers are not likely to result in future default risk.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:333.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The receivables are mainly comprised of royalties, trade receivables, milestones and amounts due under </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:344.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">collaboration agreements and are non-interest bearing receivables which are due less than one year from </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:355.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the balance sheet date.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:374.22pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">4.2</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information about interest receivables and related credit risk.</a></span></div><div style="position:var(--position);top:391.82pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-258" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">I</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.07pt;position:var(--position);text-decoration:none;white-space:pre">nitially, trade receivables are designated as financial assets measured at transaction price and other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">receivables are measured at fair value. Subsequently receivables are measured in the balance sheet </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">at amortized cost, which generally corresponds to nominal value less expected credit losses.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Accounts receivable arising from product sales consists of amounts due from customers, net of customer </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:466.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">allowances for chargebacks, cash and other discounts and estimated credit losses. Genmab’s contracts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:477.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">with customers have initial payment terms that range from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:243.73pt;position:var(--position);text-decoration:none;white-space:pre">30</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:252.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:263.71000000000004pt;position:var(--position);text-decoration:none;white-space:pre">180 days</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.13pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:496.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management measures allowance for doubtful trade receivables based on the simplified approach to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:507.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">provide for expected credit losses, which requires the use of the lifetime expected loss provision for all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:518.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">trade receivables. The allowance is an estimate based on shared credit risk characteristics and the days </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:529.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">past due.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Loss allowance is calculated using historical analysis of customer payments, past due customer invoice </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">activity, Dun &amp; Bradstreet credit risk management reports, and specific customer knowledge.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Prepayments include expenditures related to a future financial period. Prepayments are measured at cost.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">3.7 - Contract Liabilities</span><div style="position:var(--position);top:175.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Contract liabilities at January 1</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">70</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">76</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">74</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Consideration received</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">14</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions from asset acquisition</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">51</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue recognized during the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(16)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:59.61pt;position:var(--position);text-decoration:none;white-space:pre">(1)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:59.61pt;position:var(--position);text-decoration:none;white-space:pre">(5)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">2</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">70<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current contract liabilities</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">95</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">67</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">71<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:106.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current contract liabilities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">24</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">5</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:118.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:118.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:118.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">70<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:118.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Contract liabilities relate to the AbbVie collaboration agreement and contract liabilities assumed as part of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:330.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the acquisition of Merus. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:349.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Under the AbbVie collaboration agreement, Genmab received a non-refundable upfront payment of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:360.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:430.95pt;position:var(--position);text-decoration:none;white-space:pre">750 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:469.11pt;position:var(--position);text-decoration:none;white-space:pre"> in July 2020, of which </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:549.91pt;position:var(--position);text-decoration:none;white-space:pre">$673 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:592.51pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:594.73pt;position:var(--position);text-decoration:none;white-space:pre">was recognized as license revenue during 2020. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:371.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">revenue deferred at the initiation of the AbbVie agreement in June 2020 related to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:716.7pt;position:var(--position);text-decoration:none;white-space:pre">four</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:730.46pt;position:var(--position);text-decoration:none;white-space:pre"> product concepts to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:382.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">be identified and subject to a research agreement to be negotiated between Genmab and AbbVie. During </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:393.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the first quarter of 2022, Genmab and AbbVie entered into the aforementioned research agreement that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">governs the research and development activities in regard to the product concepts.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As part of the continued evaluation of contract liabilities related to the AbbVie collaboration agreement, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s classification of contract liabilities reflects the current estimate of co-development activities as of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre">. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.44pt;position:var(--position);text-decoration:none;white-space:pre">Contract liabilities related to AbbVie have been recognized as reimbursement revenue </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in the Consolidated Statements of Comprehensive Income. The amounts recognized in 2025 and 2024 </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">were not material. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Contract liabilities assumed in the acquisition of Merus primarily relate to a collaboration, option and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">license agreement between Merus and Gilead Sciences, Inc. (Gilead), under which Merus granted Gilead </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">access to certain intellectual property and committed to perform related research and collaboration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">activities. At inception of the arrangement, Merus identified a performance obligation consisting of research </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">services and deferred the consideration allocated to this performance obligation. Following the acquisition, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">contract</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:65.27000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> liabilities of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:108.75pt;position:var(--position);text-decoration:none;white-space:pre">$51 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:146.91pt;position:var(--position);text-decoration:none;white-space:pre"> were recognized, primarily relating to the Gilead collaboration agreement, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:236.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">which accounted for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:110.11000000000001pt;position:var(--position);text-decoration:none;white-space:pre">$49 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:148.27pt;position:var(--position);text-decoration:none;white-space:pre"> of the additions. The contract liabilities assumed from the acquisition of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Merus are recognized as reimbursement revenue in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:258.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Income over time as the related performance obligations are satisfied.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:277.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.6</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1875" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information related to the AbbVie and Gilead collaborations.</a></span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">3.8 - Other Payables</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Liabilities related to collaboration agreements</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">79<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">39<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Staff cost liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">171<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">102<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">94<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accounts payable</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">145<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">90<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">49<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other liabilities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">679<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">263<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">182<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,074<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">494<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">347<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current other payables</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current other payables</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,069<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">489<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">342<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:106.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,074<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">494<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">347<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:258.22pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-260" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:280.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Other payables, excluding provisions, are initially measured at fair value and subsequently measured in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">balance sheet at amortized cost.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:310.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The current other payables are comprised of liabilities that are due less than one year from the balance </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:321.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">sheet date and are in general not interest bearing and settled on an ongoing basis during the next financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:332.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">year. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:461.89pt;position:var(--position);text-decoration:none;white-space:pre">$580</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:479.65pt;position:var(--position);text-decoration:none;white-space:pre"> million in</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:512.92pt;position:var(--position);text-decoration:none;white-space:pre">crease in current other payables is primarily related to the expansion of our </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">product pipeline as well as accrued termination costs associated with the discontinuance of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acasunlimab program during the fourth quarter of 2025.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Non-current payables are measured at the present value of the expenditures expected to be required to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">settle the obligation using a pre-tax discount rate that reflects current market assessments of the time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:395.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value of money and the risks specific to the obligation. The increase in the liability due to passage of time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is recognized as interest expense.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:425.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Accounts Payable</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Accounts payable are measured in the Consolidated Balance Sheets at amortized cost.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:455.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Other Liabilities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.27pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Other liabilities primarily include accrued expenses related to our research and development project costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.27pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and are measured in the Consolidated Balance Sheets at amortized cost.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:497.27pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_846" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_846" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:474.89pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.11pt;position:var(--position);text-decoration:none;white-space:pre">2.3</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_846" style="color:inherit;text-decoration:inherit;z-index:1"> for accounting policies related to staff costs.</a></span></div> 6927000000 369000000 82000000 P13Y P15Y P14Y 1532000000 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:126.75pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.98pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.53pt;position:var(--position);text-decoration:none;white-space:pre">Licenses </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.14pt;position:var(--position);text-decoration:none;white-space:pre">and Patents</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.55pt;position:var(--position);text-decoration:none;white-space:pre">Technology </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.24pt;position:var(--position);text-decoration:none;white-space:pre">Platform</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.14pt;position:var(--position);text-decoration:none;white-space:pre">Acquired </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:24.31pt;position:var(--position);text-decoration:none;white-space:pre">IPR&amp;D</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.72pt;position:var(--position);text-decoration:none;white-space:pre">Total </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.23pt;position:var(--position);text-decoration:none;white-space:pre">Intangible </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.04pt;position:var(--position);text-decoration:none;white-space:pre">Assets</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the beginning of the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">149<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,532<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:41.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,216<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">115<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">369<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">6,927<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:53.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">7,411<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:65.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">20<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">268<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">550<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">8,474<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:77.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">9,647<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the beginning of the year</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">126<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:89.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:110.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Impairment losses for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:122.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:134.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">148<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:146.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">169<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:167.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at the end of </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">120<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">529<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">8,474<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:167.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">9,478<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:204pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:216pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the beginning of the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:216pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:228pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">354<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">24<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,536<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:228pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,094<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(9)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(4)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:240pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.67pt"></span></span><span style="left:35.300000000000004pt;position:var(--position)">(12)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:252pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">149<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,532<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:252pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,216<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:264pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the beginning of the year</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:264pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:285pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:285pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:297pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Impairment losses for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:297pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:309pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Effect of exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(7)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:309pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.11pt"></span></span><span style="left:39.74pt;position:var(--position)">(8)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:321pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Amortization and impairment </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">losses at the end of the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">126<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.77pt"></span></span><span style="left:42.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:321pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:342pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at the end of </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the year</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">355<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">23<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">173<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,532<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:342pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,083<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 355000000 149000000 180000000 1532000000 2216000000 0 115000000 369000000 6927000000 7411000000 0 4000000 1000000 15000000 20000000 355000000 268000000 550000000 8474000000 9647000000 0 -126000000 -7000000 0 -133000000 2000000 14000000 0 16000000 0 18000000 0 0 18000000 0 -2000000 0 0 -2000000 0 -148000000 -21000000 0 -169000000 355000000 120000000 529000000 8474000000 9478000000 0 134000000 0 0 134000000 354000000 24000000 180000000 1536000000 2094000000 1000000 -9000000 0 -4000000 -12000000 355000000 149000000 180000000 1532000000 2216000000 0 -119000000 0 0 -119000000 3000000 8000000 0 11000000 0 11000000 0 0 11000000 0 7000000 1000000 0 8000000 0 -126000000 -7000000 0 -133000000 355000000 23000000 173000000 1532000000 2083000000 16000000 11000000 8000000 355000000 0 0.086 P10Y P5Y <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:377.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill represents the excess of purchase price over the fair value of net identifiable assets acquired and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:388.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">liabilities assumed in a business combination accounted for by the acquisition method of accounting. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:399.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Goodwill is allocated to each of the group’s CGU (or groups of CGUs) expected to benefit from the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">synergies of the combination. Genmab consists of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:605.45pt;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:618.77pt;position:var(--position);text-decoration:none;white-space:pre"> single CGU which represents its single operating </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">segment. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:440.17pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Recognition and Measurement </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Intangible assets are initially measured at cost and are subsequently measured at cost less any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">accumulated amortization and any impairment loss. Goodwill is not amortized but is subject to impairment </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:474.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">testing. </span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:493.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Amortization </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:505.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Intangible assets with definite useful lives are amortized based on the straight-line method over their </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:516.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">estimated useful lives. This corresponds to the legal duration or the economic useful life depending </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:527.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">on which is shorter. The amortization of intellectual property rights, including IPR&amp;D, commences </span></div>after regulatory approval has been obtained or when assets are put in use. 1 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">Leasehold </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.15pt;position:var(--position);text-decoration:none;white-space:pre">improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:28.57pt;position:var(--position);text-decoration:none;white-space:pre">Equipment, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.17pt;position:var(--position);text-decoration:none;white-space:pre">furniture and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:42.31pt;position:var(--position);text-decoration:none;white-space:pre">fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.89pt;position:var(--position);text-decoration:none;white-space:pre">Assets under </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.99pt;position:var(--position);text-decoration:none;white-space:pre">construction</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.59pt;position:var(--position);text-decoration:none;white-space:pre">Total property and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.48pt;position:var(--position);text-decoration:none;white-space:pre">equipment</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">254<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">29<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">46<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers between the </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">classes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">23<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(41)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Disposals for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(6)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(5)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(11)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">21<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:119.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">132<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">175<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">310<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:30pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:147pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(38)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(79)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:147pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(117)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:177pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(25)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(38)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:189pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(10)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation on </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">disposals</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(48)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(109)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:240pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(157)</span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:295.5pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">84<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">66<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:295.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">153<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">Leasehold </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.15pt;position:var(--position);text-decoration:none;white-space:pre">improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:28.57pt;position:var(--position);text-decoration:none;white-space:pre">Equipment, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.17pt;position:var(--position);text-decoration:none;white-space:pre">furniture and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:42.31pt;position:var(--position);text-decoration:none;white-space:pre">fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.89pt;position:var(--position);text-decoration:none;white-space:pre">Assets under </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.99pt;position:var(--position);text-decoration:none;white-space:pre">construction</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.59pt;position:var(--position);text-decoration:none;white-space:pre">Total property and </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.48pt;position:var(--position);text-decoration:none;white-space:pre">equipment</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">135<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">242<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">17<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisitions through </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">business combinations</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers between the </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">classes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(7)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:107.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Disposals for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(12)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:119.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(8)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(12)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:140.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cost at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:140.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">254<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:30pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:168pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(29)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(71)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:168pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(100)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:198pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(11)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(23)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:198pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(34)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">adjustment</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:210pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:30pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:231pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation on </span></div><div style="line-height:8pt;position:var(--position);top:21pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">disposals</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:231pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:21pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:39.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:261pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accumulated </span></div><div style="line-height:8pt;position:var(--position);top:12.25pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">depreciation and </span></div><div style="line-height:8pt;position:var(--position);top:21.5pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">impairment at </span></div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(38)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(79)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:261pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:30.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(117)</span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:316.5pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Carrying amount at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">63<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">60<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:316.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">137<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:458.22pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation and impairment included in </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">the income statement as follows:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">31</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">29</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">20</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">7</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">5</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">7</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">38</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">34</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">27</span></div></div></div></td></tr></tbody></table></div></div></div> 101000000 139000000 14000000 254000000 8000000 9000000 29000000 46000000 23000000 18000000 -41000000 0 6000000 5000000 0 11000000 6000000 14000000 1000000 21000000 132000000 175000000 3000000 310000000 -38000000 -79000000 0 -117000000 13000000 25000000 0 38000000 -3000000 -10000000 0 -13000000 6000000 5000000 0 11000000 -48000000 -109000000 0 -157000000 84000000 66000000 3000000 153000000 101000000 135000000 6000000 242000000 1000000 12000000 17000000 30000000 2000000 6000000 0 8000000 1000000 6000000 -7000000 0 1000000 12000000 1000000 14000000 -3000000 -8000000 -1000000 -12000000 101000000 139000000 14000000 254000000 -29000000 -71000000 0 -100000000 11000000 23000000 0 34000000 1000000 4000000 0 5000000 1000000 11000000 0 12000000 -38000000 -79000000 0 -117000000 63000000 60000000 14000000 137000000 31000000 29000000 20000000 7000000 5000000 7000000 38000000 34000000 27000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Property and equipment is comprised of leasehold improvements, assets under construction, and </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">equipment, furniture, and fixtures, which are measured at cost less accumulated depreciation and any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">impairment losses.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The cost is comprised of the acquisition price and direct costs related to the acquisition until the asset is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ready for use. Costs include direct costs and costs to subcontractors.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:241.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation is calculated on a straight-line basis to allocate the cost of the assets, net of any residual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:264.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value, over the estimated useful lives, which are as follows:</span></div><div style="position:var(--position);top:283.37pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:375pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:197.25pt"></td><td style="padding:0;width:177.75pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:197.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:197.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Equipment, furniture and fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:197.25pt;position:var(--position);width:177.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:177.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:6.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">-</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:9.49pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">5</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:13.809999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> years</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:197.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:197.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leasehold improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:197.25pt;position:var(--position);top:12pt;width:177.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:177.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">15</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:11.27pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> years or the lease term, if shorter</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:320.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation commences when the asset is available for use, including when it is in the location and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:331.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">condition necessary for it to be capable of operating in the manner intended by Management. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:342.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">useful lives and residual values are reviewed and adjusted if appropriate on a yearly basis. Assets </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:353.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">under construction are not depreciated.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:372.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Impairment</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:383.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">If circumstances or changes in Genmab’s operations indicate that the carrying amount of property </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and equipment may not be recoverable, Management performs an impairment test of the asset.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The basis for the performance of an impairment test is the recoverable amount of the asset, determined as </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the greater of the fair value less cost to sell or its value in use. Value in use is calculated as the net present </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value of future cash inflow expected to be generated from the asset.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:454.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">If the carrying amount of an asset is greater than the recoverable amount, the asset is written down to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:465.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">recoverable amount. An impairment loss is recognized in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:476.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Income when the impairment is identified.</span></div> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Depreciation is calculated on a straight-line basis to allocate the cost of the assets, net of any residual </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:264.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value, over the estimated useful lives, which are as follows:</span></div><div style="position:var(--position);top:283.37pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:375pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:197.25pt"></td><td style="padding:0;width:177.75pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:197.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:197.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Equipment, furniture and fixtures</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:197.25pt;position:var(--position);width:177.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:177.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:6.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">-</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:9.49pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">5</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:13.809999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> years</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:197.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:197.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leasehold improvements</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:197.25pt;position:var(--position);top:12pt;width:177.75pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:177.75pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">15</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:11.27pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> years or the lease term, if shorter</span></div></div></div></td></tr></tbody></table></div></div></div> P3Y P5Y P15Y <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Right-of-use assets</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Balance at January 1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">128<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">102<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">75<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:162pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions to right-of-use assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:108.44999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3.75pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:48pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Depreciation charge for the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:48pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(17)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:48pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(15)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:48pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:60pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:60pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:60pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(7)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:60pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:72pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Balance at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:72pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">127<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:72pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">128<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:72pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">102<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:99.75pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Lease liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:111.75pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:111.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:111.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:111.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:123.75pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:123.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:123.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">131<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:123.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:151.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:151.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">152<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:151.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">144<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:151.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">114<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:163.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash outflow for lease payments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:163.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:163.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">14<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:163.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">17<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:29.25pt"><td colspan="4" style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:188.25pt;width:378pt"><div><div style="line-height:7pt;position:var(--position);top:3.19pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:11.13pt;position:var(--position);text-decoration:none;white-space:pre">Additions to right-of-use assets in 2025 related to the Merus acquisition, modifications to existing leases, lease </span></div><div style="line-height:7pt;position:var(--position);top:12.19pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:11.13pt;position:var(--position);text-decoration:none;white-space:pre">incentives, and adjustments to the provisions for contractual restoration obligations related to leases of Genmab </span></div><div style="line-height:7pt;position:var(--position);top:21.19pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:11.13pt;position:var(--position);text-decoration:none;white-space:pre">offices.</span></div></div></div></td></tr></tbody></table></div></div> 128000000 102000000 75000000 12000000 48000000 36000000 17000000 15000000 13000000 4000000 -7000000 4000000 127000000 128000000 102000000 18000000 13000000 13000000 134000000 131000000 101000000 152000000 144000000 114000000 18000000 14000000 17000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Undiscounted future minimum payments under leases are as follows:</span><div style="position:var(--position);top:436.22pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Payment due</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Within 1 year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">16<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1 – 3 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">47<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">40<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">30<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3 – 5 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">44<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">39<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">27<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">More than 5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">65</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">77</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">61</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">181<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">174<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div> 25000000 18000000 16000000 47000000 40000000 30000000 44000000 39000000 27000000 65000000 77000000 61000000 181000000 174000000 134000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">All leases are recognized in the Consolidated Balance Sheets as a right-of-use (ROU) asset with a </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">corresponding lease liability, except for short-term leases in which the term is 12 months or less and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">low-value leases.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ROU assets represent Genmab’s right to use an underlying asset for the lease term and lease liabilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">represent Genmab’s obligation to make lease payments arising from the lease. The ROU asset is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">depreciated over the shorter of the asset’s useful life or the lease term on a straight-line basis. In the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income, depreciation of the ROU asset is recognized over the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">lease term in operating expenses and interest expenses related to the lease liability are classified </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in financial items.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:244.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab determines if an arrangement is a lease at inception. Genmab leases various properties </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:255.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and vehicles. Lease contracts are typically made for fixed periods. Lease terms are negotiated on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:266.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">an individual basis and contain a wide range of terms and conditions.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:285.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">are measured at amortized cost, and include the net present value of fixed payments, less any lease </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incentives receivable. As Genmab’s leases generally do not provide an implicit interest rate, Genmab uses </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">an incremental borrowing rate based on the information available at the commencement date of the lease </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:329.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in determining the present value of lease payments. Lease terms utilized by Genmab may include options </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:340.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to extend or terminate the lease when it is reasonably certain that Genmab will exercise that option. In </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:351.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">determining the lease term, Management considers all facts and circumstances that create an economic </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:362.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incentive to exercise an extension option, or not exercise a termination option. Extension options (or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">periods after termination options) are only included in the lease term if the lease is reasonably certain to be </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">extended.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:403.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ROU assets are measured at cost and include the amount of the initial measurement of the lease liability, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">any lease payments made at or before the commencement date less any lease incentives received, any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">initial direct costs, and restoration costs.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:444.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Payments associated with short-term leases and leases of low-value assets are recognized on a straight-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">line basis as an expense in the Consolidated Statements of Comprehensive Income.</span></div> <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Publicly traded equity securities</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fund investments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Privately held equity securities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">20<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 9000000 5000000 7000000 26000000 25000000 13000000 2000000 2000000 0 37000000 32000000 20000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other investments are measured on initial recognition at fair value, and subsequently at fair value. </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Changes in fair value are recognized in the Consolidated Statements of Comprehensive Income within </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">financial income or expense.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:314.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other investments primarily consist of investments in certain strategic investment funds. Genmab’s share </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:325.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of the fair value of these fund investments is determined based on the valuation of the underlying </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:336.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments included in the fund. Investments in publicly traded equity securities included in these strategic </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investment funds are valued based at the most recent sale price or official closing price reported on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">exchange or over-the-counter market on which they trade, while investments in non-publicly traded equity </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">securities are based on other factors, including but not limited to, type of the security, the size of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:380.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">holding, the initial cost of the security, the price and extent of public trading in similar securities of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">comparable companies, an analysis of the Company's or issuer's financial statements and with respect to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">debt securities, the maturity and creditworthiness. As such, these fund investments have been </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">characterized as Level 3 investments as fair values are based on significant unobservable inputs.</span></div><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Classification of categories of financial assets and</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:654.3199999999999pt;position:var(--position);text-decoration:none;white-space:pre"> liabiliti</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:686.97pt;position:var(--position);text-decoration:none;white-space:pre">e</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:692.25pt;position:var(--position);text-decoration:none;white-space:pre">s</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:309.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab classifies its financial assets and liabilities held into the following measurement categories:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">those to be measured subsequently at fair value (either through other comprehensive income, or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">through profit or loss), and</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">those to be measured at amortized cost.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The classification depends on the business model for managing the financial assets and the contractual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">terms of the cash flows.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:403.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">For assets measured at fair value, gains and losses will either be recorded in profit or loss or other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">comprehensive income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:433.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab reclassifies debt investments only when its business model for managing those assets changes.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Further details about the accounting policy for each of the financial assets and liabilities are outlined in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">respective notes.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:482.62pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_991" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_991" style="color:inherit;text-decoration:inherit;z-index:1">Note 3.3</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:506.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_4032" style="color:inherit;text-decoration:inherit;z-index:1">4.8</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:517.95pt;position:var(--position);text-decoration:none;white-space:pre"> for detailed policies regarding Genmab’s lease liability and borrowings, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:492.22pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">respectively. </span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Marketable securities are debt instruments that consist of investments in securities with a maturity of 90 </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">days or greater at the time of acquisition. Measurement of marketable securities depends on the business </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">model for managing the asset and the cash flow characteristics of the asset. Genmab assesses its debt </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">instruments to determine classification based on the following measurement categories:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Amortized cost: Assets that are held for collection of contractual cash flows, where those cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">represent solely payments of principal and interest, are measured at amortized cost. Interest income </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">from these financial assets is included in finance income using the effective interest rate method. Any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">gain or loss arising on derecognition is recognized directly in profit or loss and presented in other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">financial income or expenses, together with foreign exchange gains and losses. Impairment losses, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:236.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">when material, are presented as a separate line item in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:262.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Fair value through other comprehensive income (FVOCI): Assets that are held to achieve an objective </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:273.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">by both collecting contractual cash flows as well as selling financial assets and where those cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">represent solely payments of principal and interest, are measured at FVOCI. Changes in fair value on a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">debt investment that is subsequently measured at FVOCI are recognized in other comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:306.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">income. Impairment gains and losses, interest income and foreign exchange gains and losses are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">recognized in the Consolidated Statements of Comprehensive Income and presented within financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">income or expenses in the period in which they arise. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Fair value through profit and loss (FVPL): Assets that do not meet the criteria for amortized cost or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">FVPL is recognized in the Consolidated Statements of Comprehensive Income and presented net within </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">financial income or expenses in the period in which it arises.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:395.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s portfolio is managed and evaluated on a fair value basis in accordance with its stated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investment guidelines and the information provided internally to Management. This business model does </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not meet the criteria for amortized cost or FVOCI and as a result marketable securities are measured at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:428.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">FVPL. This classification is consistent with the prior year’s classification.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:447.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab invests its cash in deposits with major financial institutions, in AAA rated money market funds, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Danish mortgage bonds, investment grade rated corporate debt, commercial paper, certificates of deposit, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">certain types of AAA rated asset backed securities, U.S. Agency bonds, and notes issued by the Danish, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:480.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">European and U.S. governments. The securities can be purchased and sold using established markets.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:499.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Transactions are recognized at the trade date.</span></div> <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Raw materials</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Work in progress</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Finished goods</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">13<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total inventories (gross) </span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">19<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Allowances at year end</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total inventories (net) </span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 6000000 1000000 2000000 0 0 0 13000000 11000000 9000000 19000000 12000000 11000000 -1000000 -3000000 -3000000 18000000 9000000 8000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Inventories are measured at the lower of cost and net realizable value with costs determined on a first-</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:308.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in, first-out basis. Costs comprise direct and indirect costs relating to the manufacture of inventory mainly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">from third-party providers of manufacturing as well as costs related to internal resources and distribution </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:330.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and logistics. Genmab assesses the recoverability of capitalized inventories during each reporting period </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:341.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and will write down excess or obsolete inventories to their net realizable value in the period in which the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:352.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">impairment is identified. Write downs of inventory are included within Cost of product sales in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:363.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:382.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Included in inventories are materials with the intended purpose of being made available for sale. If the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:393.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">materials are later used in the production of clinical products, the materials are charged to research and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">development expense when shipped to the clinical packaging site. Materials ordered exclusively to be used </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:415.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in Genmab’s research and development process (e.g., early research/clinical trials) are immediately </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expensed to research and development as incurred.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Inventory manufactured prior to regulatory approval of a product (prelaunch inventory) is written down to its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net realizable value (that is the probable amount expected to be realized from its sale or use at the time of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">production). The amount of this write down is recognized in the Consolidated Statements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of Comprehensive Income as research and development expenses. Once there is a high probability of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:489.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">regulatory approval being obtained for the product, inventory costs begin to be capitalized. Additionally, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:500.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">write-down is reversed, up to no more than the original cost. The reversal of the write-down is recognized </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:511.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">as a reduction to research and development expenses in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:522.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Income.</span></div> <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:182.25pt"></td><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:65.25pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.88pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.88pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.54pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:11.25pt;width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:11.25pt;width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:11.25pt;width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Receivables related to collaboration agreements</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:22.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">907<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:22.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">761<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:22.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">615<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Prepayments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:34.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">65<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:34.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:34.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">36<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Trade receivables related to product sales</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:46.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">96<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:46.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">65<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:46.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">27<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Interest receivables</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:58.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.77pt"></span></span><span style="left:57.400000000000006pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:58.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">19<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:58.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other receivables</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:70.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">62<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:70.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">49<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:70.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">43<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:82.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.23pt"></span></span><span style="left:41.86pt;position:var(--position)">1,134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:82.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">930<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:82.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">743<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current receivables</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:94.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:94.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.77pt"></span></span><span style="left:57.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:94.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:50.33pt"></span></span><span style="left:52.96pt;position:var(--position)">10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:106.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current receivables</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:106.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.23pt"></span></span><span style="left:41.86pt;position:var(--position)">1,112<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:106.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">923<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:106.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">733<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:118.5pt;width:182.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:182.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:182.25pt;position:var(--position);top:118.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:39.23pt"></span></span><span style="left:41.86pt;position:var(--position)">1,134<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:247.5pt;position:var(--position);top:118.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">930<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:312.75pt;position:var(--position);top:118.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.89pt"></span></span><span style="left:48.52pt;position:var(--position)">743<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 907000000 761000000 615000000 65000000 36000000 36000000 96000000 65000000 27000000 4000000 19000000 22000000 62000000 49000000 43000000 1134000000 930000000 743000000 22000000 7000000 10000000 1112000000 923000000 733000000 1134000000 930000000 743000000 0 0 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">I</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.07pt;position:var(--position);text-decoration:none;white-space:pre">nitially, trade receivables are designated as financial assets measured at transaction price and other </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">receivables are measured at fair value. Subsequently receivables are measured in the balance sheet </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">at amortized cost, which generally corresponds to nominal value less expected credit losses.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Accounts receivable arising from product sales consists of amounts due from customers, net of customer </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:466.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">allowances for chargebacks, cash and other discounts and estimated credit losses. Genmab’s contracts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:477.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">with customers have initial payment terms that range from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:243.73pt;position:var(--position);text-decoration:none;white-space:pre">30</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:252.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:263.71000000000004pt;position:var(--position);text-decoration:none;white-space:pre">180 days</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.13pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:496.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management measures allowance for doubtful trade receivables based on the simplified approach to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:507.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">provide for expected credit losses, which requires the use of the lifetime expected loss provision for all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:518.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">trade receivables. The allowance is an estimate based on shared credit risk characteristics and the days </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:529.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">past due.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Loss allowance is calculated using historical analysis of customer payments, past due customer invoice </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">activity, Dun &amp; Bradstreet credit risk management reports, and specific customer knowledge.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Prepayments include expenditures related to a future financial period. Prepayments are measured at cost.</span></div> P30D P180D <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Contract liabilities at January 1</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">70</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">76</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">74</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Consideration received</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">14</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Additions from asset acquisition</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">51</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue recognized during the year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(16)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:59.61pt;position:var(--position);text-decoration:none;white-space:pre">(1)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exchange rate adjustment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:59.61pt;position:var(--position);text-decoration:none;white-space:pre">(5)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">2</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">70<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current contract liabilities</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">95</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">67</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">71<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:106.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current contract liabilities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">24</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">5</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:118.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:118.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">119<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:118.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">70<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:118.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 70000000 76000000 74000000 14000000 0 0 51000000 0 0 16000000 1000000 0 0 -5000000 2000000 119000000 70000000 76000000 95000000 67000000 71000000 24000000 3000000 5000000 119000000 70000000 76000000 750000000 673000000 4 51000000 49000000 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Liabilities related to collaboration agreements</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">79<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">39<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Staff cost liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">171<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">102<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">94<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Accounts payable</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">145<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">90<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">49<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other liabilities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">679<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">263<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">182<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:70.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,074<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">494<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:70.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">347<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:82.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current other payables</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:82.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current other payables</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,069<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">489<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:94.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">342<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:106.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,074<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">494<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:106.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">347<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 79000000 39000000 22000000 171000000 102000000 94000000 145000000 90000000 49000000 679000000 263000000 182000000 1074000000 494000000 347000000 5000000 5000000 5000000 1069000000 489000000 342000000 1074000000 494000000 347000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Other payables, excluding provisions, are initially measured at fair value and subsequently measured in the </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">balance sheet at amortized cost.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:310.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The current other payables are comprised of liabilities that are due less than one year from the balance </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:321.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">sheet date and are in general not interest bearing and settled on an ongoing basis during the next financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:332.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">year. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:461.89pt;position:var(--position);text-decoration:none;white-space:pre">$580</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:479.65pt;position:var(--position);text-decoration:none;white-space:pre"> million in</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:512.92pt;position:var(--position);text-decoration:none;white-space:pre">crease in current other payables is primarily related to the expansion of our </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">product pipeline as well as accrued termination costs associated with the discontinuance of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acasunlimab program during the fourth quarter of 2025.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Non-current payables are measured at the present value of the expenditures expected to be required to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">settle the obligation using a pre-tax discount rate that reflects current market assessments of the time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:395.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value of money and the risks specific to the obligation. The increase in the liability due to passage of time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is recognized as interest expense.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:425.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Accounts Payable</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Accounts payable are measured in the Consolidated Balance Sheets at amortized cost.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:455.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Other Liabilities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.27pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Other liabilities primarily include accrued expenses related to our research and development project costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.27pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and are measured in the Consolidated Balance Sheets at amortized cost.</span></div> 580000000 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Section 4 - Capital Structure, </span><div style="font-size:12pt;line-height:25pt;position:var(--position);top:135.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Financial Risk and Related Items</span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:174.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">This section includes disclosures related to how Genmab manages its </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:188.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">capital structure, cash position and related risks and items. Genmab is </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:202.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">primarily financed through partnership collaborations.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.1 - Capital Management</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:240.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s goal is to maintain a strong capital base so as to maintain investor, creditor and market </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:251.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">confidence, and to have adequate liquidity to support the continuous advancement of Genmab’s product </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:261.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">pipeline and business in general. To achieve this goal Genmab invests in different liquidity tiers. To meet </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:272.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">operational goals, Genmab invests in cash and cash equivalents and marketable securities. To ensure </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">sufficient reserves, Genmab invests in short-term securities with an average duration of about six months, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:293.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">which serves as back-up liquidity for the operating tier. For strategic purposes, Genmab has short term </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:303.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments to support the Company’s growth over the longer term. Most of Genmab’s cash and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:314.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities are in USD due to having a larger USD expenditure base than DKK, which provides </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:324.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">better matching of investment balances with actual expenditures. Genmab is primarily financed through </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">revenues under various collaboration agreements and had, as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:267.27pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:337.42pt;position:var(--position);text-decoration:none;white-space:pre">, cash, and cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equivalents of</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:86.13pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:88.35pt;position:var(--position);text-decoration:none;white-space:pre">$1,715 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:137.61pt;position:var(--position);text-decoration:none;white-space:pre"> compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:186.45pt;position:var(--position);text-decoration:none;white-space:pre">$1,380 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:235.71pt;position:var(--position);text-decoration:none;white-space:pre"> as of December 31,2024. There were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:372.31pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:381.19pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:356.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities as of December 31, 2025 compared to marketable securities of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:339.64000000000004pt;position:var(--position);text-decoration:none;white-space:pre">$1,574 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:388.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:366.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre">. Genmab liquidated all marketable securities and inc</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:294.33000000000004pt;position:var(--position);text-decoration:none;white-space:pre">urred </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:315.19pt;position:var(--position);text-decoration:none;white-space:pre">$5.5 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:353.35pt;position:var(--position);text-decoration:none;white-space:pre"> of borrowings to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:377.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">contribute to the financing of the Merus acquisition in December 2025. Genmab’s ca</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:333.72pt;position:var(--position);text-decoration:none;white-space:pre">sh and cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equivalents and marketable securities support the advancement of our product pipeline and operations.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab entered into financing arrangements total </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:217.09pt;position:var(--position);text-decoration:none;white-space:pre">$5.5 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:255.25pt;position:var(--position);text-decoration:none;white-space:pre">, consisting of senior secured notes, senior </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">unsecured notes, and term loans to contribute to the financing of the Merus acquisition. Genmab has </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">access to up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:92.81pt;position:var(--position);text-decoration:none;white-space:pre">$500 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:135.41pt;position:var(--position);text-decoration:none;white-space:pre"> in additional funds through</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:231.29pt;position:var(--position);text-decoration:none;white-space:pre"> the</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:244.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> 2025 Revolving Credit Facility. Refer to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:386.95000000000005pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_4032" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:437.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.8</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:47.95pt;position:var(--position);text-decoration:none;white-space:pre"> for additional </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.1pt;position:var(--position);text-decoration:none;white-space:pre">information</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:137.6pt;position:var(--position);text-decoration:none;white-space:pre"> related to the revolving credit facility and existing borrowings.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The adequacy of our available funds will depend on many factors, including the level of DARZALEX and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:466.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">other royalty streams, progress in our research and development programs, the magnitude of those </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:477.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">programs, our commitments to existing and new clinical collaborators, our ability to establish commercial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:487.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and licensing arrangements, our capital expenditures, market developments, and any future acquisitions. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:498.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Because Genmab’s future commercial potential and operating profits are hard to predict, Genmab’s policy </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:508.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">is to maintain a strong capital base so as to maintain investor, creditor and market confidence, and a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:519.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">continuous advancement of Genmab’s product pipeline and business in general.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:537.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The Board monitors the share and capital structure to ensure that Genmab’s capital resources support its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:548.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">strategic goals. </span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">4.2 - Financial Risk</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The financial risks of Genmab are managed centrally.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:145.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The overall risk management guidelines have been approved by the Board of Directors and include </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:156.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the Group’s investment policies related to our marketable securities and interest rate risk related to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:167.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">borrowings. The Group’s risk management guidelines are established to identify and analyze the risks </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:178.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">faced by the Genmab Group, to set the appropriate risk limits and controls and to monitor the risks and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:189.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">adherence to limits. It is Genmab’s policy not to actively speculate in financial risks. The Group’s financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:200.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">risk management is directed solely towards monitoring and reducing financial risks which are directly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">related to Genmab’s operations.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:230.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Management ensures that the interest rate risk is managed by Treasury in accordance with the Interest </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:241.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Risk Policy. Interest rate risk relates mainly to outstanding interest-bearing debt with floating interest rates. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:252.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Interest rate risk management is handled centrally by the Parent Company. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The primary objective of Genmab’s investment activities is to preserve capital and ensure liquidity with </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">a secondary objective of maximizing the return derived from security investments without significantly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:293.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">increasing risk. Therefore, our investment policy includes among other items, guidelines and ranges for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:304.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">which investments (which are primarily shorter-term in nature) are considered to be eligible investments for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:315.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab and which investment parameters are to be applied, including maturity limitations and credit </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:326.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ratings. In addition, the policy includes specific diversification criteria and investment limits to minimize the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:337.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">risk of loss resulting from over-concentration of assets in a specific class, issuer, currency, country, or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:348.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">economic sector.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:367.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s marketable securities are administered by external investment managers. The investment </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:378.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">guidelines and managers are reviewed regularly to reflect changes in market conditions, Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:389.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">activities and financial position. Genmab’s investment policy allows investments in debt rated BBB- or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:400.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">greater by S&amp;P or Fitch and in debt rated Baa3 or greater by Moody’s. The policy also includes additional </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:411.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">allowable investment types such as corporate debt, commercial paper, certificates of deposit, and certain </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:422.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">types of AAA rated asset-backed securities.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:441.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">I</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:428.73pt;position:var(--position);text-decoration:none;white-space:pre">n addition to the capital management and financing risk mentioned in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:674.22pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1560" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:691.97pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:694.19pt;position:var(--position);text-decoration:none;white-space:pre">4.1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:705.29pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab has identified the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">following key financial risk areas, which are mainly related to our marketable securities portfolio and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">borrowings:</span></div><div style="position:var(--position);top:482.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:369.75pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:12pt"></td><td style="padding:0;width:357.75pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:12pt"><div><div style="line-height:3pt;position:var(--position);top:5.16pt;width:12pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:3pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">⬤</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:12pt;position:var(--position);width:357.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:357.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">credit risk;</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:12pt"><div><div style="line-height:3pt;position:var(--position);top:5.16pt;width:12pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:3pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">⬤</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:12pt;position:var(--position);top:12pt;width:357.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:357.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">foreign currency risk; and</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:24pt;width:12pt"><div><div style="line-height:3pt;position:var(--position);top:5.16pt;width:12pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:3pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">⬤</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:12pt;position:var(--position);top:24pt;width:357.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:357.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">interest rate risk</span></div></div></div></td></tr></tbody></table></div></div></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">All of Ge</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre">nmab’s marketable securities are traded in established markets. Given the current market </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">conditions, all future cash inflows, including re-investments of proceeds from the disposal of marketable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">securities, are invested in highly liquid, investment grade securities. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1633" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1633" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">4.4</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1633" style="color:inherit;text-decoration:inherit;z-index:1"> </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:100.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1633" style="color:inherit;text-decoration:inherit;z-index:1">for additional information regarding marketable securities.</a></span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:166.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Credit Risk</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:178.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab is exposed to credit risk and losses on marketable securities, bank deposits and receivables. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:189.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">maximum credit exposure related to Genmab’s cash and cash equivalents and marketable securities was </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:200.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">$1,715 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:86.11pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:88.33pt;position:var(--position);text-decoration:none;white-space:pre">as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107.87pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:178.01999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:226.85999999999999pt;position:var(--position);text-decoration:none;white-space:pre">$2,954 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:276.12pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:278.34000000000003pt;position:var(--position);text-decoration:none;white-space:pre">as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:297.88pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:368.03000000000003pt;position:var(--position);text-decoration:none;white-space:pre">. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:211.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">maximum credit exposure to Genmab’s receivables was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:236.95pt;position:var(--position);text-decoration:none;white-space:pre">$1,134 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:286.21000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:307.97pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:378.12pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:83.47pt;position:var(--position);text-decoration:none;white-space:pre">$930 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:126.07pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:147.83pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:217.98pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:241.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab maintains a large portion of its investment portfolio in cash equivalents and marketable securities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:252.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.06pt;position:var(--position);text-decoration:none;white-space:pre"> USD</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:62.150000000000006pt;position:var(--position);text-decoration:none;white-space:pre"> as well as a portion of cash equivalents and marketable securities in DKK, EUR and GBP as a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:263.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">natural partial hedge of Genmab A/S’s liability exposures in those currencies.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:282.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Marketable Securities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:294.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">To manage and reduce credit risks on our securities, Genmab’s policy is to ensure only securities from </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:305.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investment grade issuers are eligible for our portfolios. No issuer of marketable securities can be accepted </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:316.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">if the issuer, at the time of purchase, does not have the credit quality equal to or better than the rating </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:327.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">shown in the table below from at least one of the rating agencies. If an issuer is rated by more than one of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:338.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the rating agencies listed below, the credit assessment is made against the lowest rating available for the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:349.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">issuer.</span></div><div style="position:var(--position);top:368.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:94.5pt"></td><td style="padding:0;width:94.5pt"></td><td style="padding:0;width:94.5pt"></td><td style="padding:0;width:94.5pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Category</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:94.5pt;position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">S&amp;P</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:189pt;position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Moody’s</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Fitch</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Short-term</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:94.5pt;position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">A-2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:189pt;position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">P-2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">F-2</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Long-term</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:94.5pt;position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">BBB-</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:189pt;position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Baa3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">BBB-</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"> As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:59.06pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:129.21pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:133.65pt;position:var(--position);text-decoration:none;white-space:pre">71%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:149.64000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> of Genmab’s </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:199.23pt;position:var(--position);text-decoration:none;white-space:pre">$1,574 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:248.48999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> marketable securities were long-term A rated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">or higher, or short-term A-1 / P-1 rated by S&amp;P, Moody’s or Fitch. Genmab did not have any marketable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:438.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">securities as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:92.35pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:162.5pt;position:var(--position);text-decoration:none;white-space:pre">, as they were liquidated to contribute to the financing of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:449.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Merus acquisition. </span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:468.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Cash and Cash Equivalents</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:479.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">To reduce the credit risk on our bank deposits, Genmab’s policy is only to invest its cash deposits with </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:490.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">highly rated financial institutions.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:151.81pt;position:var(--position);text-decoration:none;white-space:pre"> Currently, these financial institutions have a short-term Fitch and S&amp;P </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:501.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">rating of at least F‑1 and A‑1, respectively. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:188.23pt;position:var(--position);text-decoration:none;white-space:pre">In addition, Genmab maintains bank deposits at a level </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">necessary to support the short-term funding requirements of Genmab. The total value of bank deposits </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:523.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">including AAA rated money market funds and short-term marketable securities classified as cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:534.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equivalents amounted to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:126.09pt;position:var(--position);text-decoration:none;white-space:pre">1,380 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:170.91pt;position:var(--position);text-decoration:none;white-space:pre"> at the end of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:219.75pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:237.51pt;position:var(--position);text-decoration:none;white-space:pre">. There were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:284.42pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:293.3pt;position:var(--position);text-decoration:none;white-space:pre"> short term marketable securities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">classified as cash and cash equivalents as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:588.14pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:658.29pt;position:var(--position);text-decoration:none;white-space:pre">. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:678.5699999999999pt;position:var(--position);text-decoration:none;white-space:pre">decrease</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:711.4300000000001pt;position:var(--position);text-decoration:none;white-space:pre"> was primarily the result of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">cash used to acquire Merus in December 2025.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Receivables</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:149.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The credit risk related to our receivables is not significant, despite a concentration of credit risk, due to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:160.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">high-quality nature of Genmab’s collaboration partners. As disclosed in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:678.0799999999999pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_796" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:695.8299999999999pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:698.05pt;position:var(--position);text-decoration:none;white-space:pre">2.2</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:709.15pt;position:var(--position);text-decoration:none;white-space:pre">, J&amp;J, Novartis, Roche, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:171.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">AbbVie and BioNTech are Genmab’s primary collaboration partners in which receivables are established </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:182.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">for royalties, milestone revenue and reimbursement revenue. These collaboration partners are life sciences </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:193.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">companies with strong credit worthiness and long-standing relationships with Genmab. Additionally, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:204.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab does not have a history of writing off receivables from collaboration partners.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:223.12pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Currency Risk</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:235.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab and its foreign subsidiaries are not significantly affected by currency risks as both revenues and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:246.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expenses are primarily settled in the foreign subsidiaries’ functional currencies.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:265.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The majority of Genmab’s revenue is generated in USD. Exchange rate changes to the USD, prior to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:276.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab A/S changing its functional and group presentation currency from DKK to USD effective January </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:287.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1, 2025, resulted in changes to the translated value of future net profit before tax and cash flows. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:298.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s revenue in USD was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:540.03pt;position:var(--position);text-decoration:none;white-space:pre">81%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:556.02pt;position:var(--position);text-decoration:none;white-space:pre"> of total revenue in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:623.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:641.7pt;position:var(--position);text-decoration:none;white-space:pre"> as compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:701.2pt;position:var(--position);text-decoration:none;white-space:pre">79%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:717.19pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:727.8399999999999pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:745.5999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:763.36pt;position:var(--position);text-decoration:none;white-space:pre">86%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:779.3499999999999pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:309.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:434.94pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:452.7pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Under our license agreement with J&amp;J for DARZALEX, for purposes of calculating royalties due to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab, DARZALEX net sales for non-U.S. dollar denominated currencies are translated to U.S. dollars at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:350.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">a specified annual Currency Hedge Rate. Movements in foreign exchanges against the annual Currency </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:361.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Hedge Rate will result in changes to royalties due to Genmab impacting net profit before tax and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:372.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">cash flows.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">There is also exposure that exchange rate fluctuations may impact equity as part of the currency </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">translation adjustments required to convert the investments in foreign subsidiaries from their respective </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">functional currencies to the presentation currency of USD during consolidation, however any such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations would be immaterial. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:443.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">To</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:434.95pt;position:var(--position);text-decoration:none;white-space:pre"> manage and reduce this foreign currency risk, Genmab maintains a large portion of its investment </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:454.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">portfolio in cash equivalents and marketable securities in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:628.94pt;position:var(--position);text-decoration:none;white-space:pre">USD</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:645.81pt;position:var(--position);text-decoration:none;white-space:pre"> as well as a portion of cash equivalents and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:465.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities in DKK, EUR and GBP as a natural partial hedge of Genmab A/S’s liability exposures </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:476.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">in those currencies.</span></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Assets and Liabilities in Foreign Currency</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:119.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s marketable securities denominated in USD, DKK, EUR and GBP as a percentage of total </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities were as follows: </span></div><div style="position:var(--position);top:149.12pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:238.5pt"></td><td style="padding:0;width:60pt"></td><td style="padding:0;width:9.75pt"></td><td style="padding:0;width:60pt"></td><td style="padding:0;width:9.75pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);width:69.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:69.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);width:69.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:69.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Percent</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">USD</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:23.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.71pt;position:var(--position)"></span><span style="left:47.71pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:23.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:35.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.71pt;position:var(--position)"></span><span style="left:47.71pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:35.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">EUR</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:47.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:52.15pt;position:var(--position)"></span><span style="left:52.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:47.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">GBP</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:59.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:52.15pt;position:var(--position)"></span><span style="left:52.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:59.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:71.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:43.27pt;position:var(--position)"></span><span style="left:43.27pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:71.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:245.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s USD currency exposure, prior to Genmab A/S changing its functional and group presentation </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:256.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">currency from DKK to USD effective January 1, 2025, mainly related to cash and cash equivalents, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:267.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities, and receivables related to our collaborations with J&amp;J, AbbVie, and Roche. Prior to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:278.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">January 1, 2025, significant changes in the exchange rate of USD to DKK have caused net profit before tax </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:289.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to change materially as gains and losses are recognized in the Consolidated Statements of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:300.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Comprehensive Income. Based on the amount of assets and liabilities denominated in USD as of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:311.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024, a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:118.1pt;position:var(--position);text-decoration:none;white-space:pre">10%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:134.09pt;position:var(--position);text-decoration:none;white-space:pre"> increase/decrease in the USD to DKK exchange rate was estimated to impact </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:322.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s net profit before tax by approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:208.97pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:213.41pt;position:var(--position);text-decoration:none;white-space:pre">266 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:251.57pt;position:var(--position);text-decoration:none;white-space:pre">. The analysis assumed that all other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:333.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">variables, in particular interest rates, remain constant. The movements in the income statement and equity </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:344.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">arise from monetary items (cash and cash equivalents, marketable securities, receivables, and liabilities) </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:355.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">where the functional currency of the entity differs from the currency that the monetary items are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:366.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">denominated in</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:91.45pt;position:var(--position);text-decoration:none;white-space:pre">. As of December 31, 2025, Genmab’s DKK exposure is not material. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:385.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s EUR exposure is mainly related to our marketable securities, receivables under our </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:396.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">collaboration with BioNTech, intangible assets acquired through the acquisition of Merus and other costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:407.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">denominated in EUR. As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:134.97pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:205.12pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:222.88pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:240.64pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab’s EUR exposure is not materia</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:385.68pt;position:var(--position);text-decoration:none;white-space:pre">l.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s GBP currency exposure is mainly related to contracts and marketable securities denominated in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:437.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">GBP. As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:77.13pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:147.28pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:165.04pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:182.79999999999998pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab’s GBP exposure is not material.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:456.37pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Risk</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab is exposed to interest rate risk</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:175.82pt;position:var(--position);text-decoration:none;white-space:pre"> as the Senior Unsecured Notes of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:300.14000000000004pt;position:var(--position);text-decoration:none;white-space:pre">$1 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:331.64000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> and Senior Secured </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:479.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Notes of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:68.82pt;position:var(--position);text-decoration:none;white-space:pre">$1.5 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:106.97999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> have fixed rates, and Term Loan A of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:240.94pt;position:var(--position);text-decoration:none;white-space:pre">$1 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:272.44pt;position:var(--position);text-decoration:none;white-space:pre"> and Term Loan B of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:346.45000000000005pt;position:var(--position);text-decoration:none;white-space:pre">$2 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:377.95000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> have </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:490.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">been partially swapped to fixed rates using hedging instruments effective January 2026 </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:346.6pt;position:var(--position);text-decoration:none;white-space:pre">and</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:359.92pt;position:var(--position);text-decoration:none;white-space:pre"> Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:501.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">intends to apply hedge accounting. The effectiveness of the hedging instruments will be monitored by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management on a quarterly basis. Genmab’s exposure to interest rate risk as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:320.86pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:391.01000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> is low </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:523.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">due to the debt issuance, and related interest rate exposure, occurring in December </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:334.75pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:352.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre">.  </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">An interest rate change on Term Loan A and Term Loan B of +/- 1 percentage point would not materially </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">decrease/increase net profit before tax in 2025, primarily due to the loans being acquired in December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">2025. There was no interest-bearing debt in 2024. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">For more information on Genmab’s borrowings refer to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:621.24pt;position:var(--position);text-decoration:none;white-space:pre">Note 4.8</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:652.31pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:166.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Marketable Securities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:177.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The securities in which the Group has invested bear interest rate risk, as a change in market-derived </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:188.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">interest rates may cause fluctuations in the fair value of the investments. In accordance with the objective </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:199.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of the investment activities, the portfolio of securities is monitored on a total return basis.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">To control and minimize the interest rate risk, Genmab maintains an investment portfolio in a variety of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">securities with a relatively short effective duration with both fixed and variable interest rates.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:248.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">A sensitivity analysis was performed on Genmab’s marketable securities, and based on exposures in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:784.23pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:801.99pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:259.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:442.05pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:459.81pt;position:var(--position);text-decoration:none;white-space:pre">, a hypothetical +/- 1% interest rate change would not have resulted in a material change in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">fair values of these financial instruments. Due to the short-term nature of the current investments and to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the extent that Genmab is able to hold the investments to maturity, the current exposure to changes in fair </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">value due to interest rate changes is considered to be insignificant compared to the fair value of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:303.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">portfolio.</span></div><div style="position:var(--position);top:322.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:258pt"></td><td style="padding:0;width:60pt"></td><td style="padding:0;width:60pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);width:60pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);width:60pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Year of Maturity</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:40.64pt"></span></span><span style="left:43.27pt;position:var(--position)">700<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:40.64pt"></span></span><span style="left:43.27pt;position:var(--position)">449<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2027</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:40.64pt"></span></span><span style="left:43.27pt;position:var(--position)">324<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2028</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.08pt"></span></span><span style="left:47.71pt;position:var(--position)">46<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2029</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.08pt"></span></span><span style="left:47.71pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2030+</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:83.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:83.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.08pt"></span></span><span style="left:47.71pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:95.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:95.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:95.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.98pt"></span></span><span style="left:36.61pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.3 - Financial Assets and Liabilities</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Categories Of Financial Assets And Liabilities</span></div><div style="position:var(--position);top:139.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:198pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:144pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:144pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:47.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:11.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.72pt;position:var(--position);text-decoration:none;white-space:pre">Note</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.69pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial assets measured at fair value through </span></div><div style="line-height:8pt;position:var(--position);top:11.94pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">profit or loss</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:43.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:43.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other investments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:55.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:55.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial assets measured at amortized cost</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Receivables excluding prepayments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:79.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,069<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:79.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">894<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:91.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,715<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:91.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,380<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial liabilities measured at amortized cost</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Borrowings</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:115.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(5,274)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:115.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:127.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Lease liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:127.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(152)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:127.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(144)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other payables excluding provisions</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:139.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,069)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:139.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(489)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:303.82pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair Value Measurement</span></div><div style="position:var(--position);top:316.42pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:74.25pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="8" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);width:270pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:270pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:110.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td colspan="4" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:11.25pt;width:135pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:135pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:115.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td colspan="4" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:11.25pt;width:135pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:135pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:115.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:74.25pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.47pt;position:var(--position);text-decoration:none;white-space:pre">Note</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141.75pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:175.5pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:209.25pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.22pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:310.5pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:344.25pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.22pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:33.75pt;width:74.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Assets Measured at </span></div><div style="line-height:8pt;position:var(--position);top:11.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair Value</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:54.75pt;width:74.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Marketable </span></div><div style="line-height:8pt;position:var(--position);top:11.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:74.25pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.02pt;position:var(--position);text-decoration:none;white-space:pre">4.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141.75pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:175.5pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:209.25pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:7.73pt"></span></span><span style="left:10.36pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:310.5pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:344.25pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:7.73pt"></span></span><span style="left:10.36pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:75.75pt;width:74.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other investments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:74.25pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.02pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141.75pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:175.5pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:209.25pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:310.5pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:344.25pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:417.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Marketable Securities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:428.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Substantially all fair market values are determined by reference to external sources using unadjusted </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:439.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">quoted prices in established markets for our marketable securities (Level 1).</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:458.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other Investments</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other investments primarily consist of investments in certain strategic investment funds. Genmab’s share </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:480.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of the fair value of these fund investments is determined based on the valuation of the underlying </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:491.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investments included in the fund. Investments in publicly traded equity securities included in these strategic </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:502.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investment funds are valued based at the most recent sale price or official closing price reported on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:513.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">exchange or over-the-counter market on which they trade, while investments in non-publicly traded equity </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:524.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">securities are based on other factors, including but not limited to, type of the security, the size of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:535.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">holding, the initial cost of the security, the price and extent of public trading in similar securities of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:546.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">comparable companies, an analysis of the Company's or issuer's financial statements and with respect to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">debt securities, the maturity and creditworthiness. As such, these fund investments have been </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">characterized as Level 3 investments as fair values are not entirely based on observable market data. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">There were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:469.12pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:478pt;position:var(--position);text-decoration:none;white-space:pre"> transfers into or out of Level 3 during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:612.51pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:630.27pt;position:var(--position);text-decoration:none;white-space:pre"> or </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:641.81pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:659.5699999999999pt;position:var(--position);text-decoration:none;white-space:pre">. Acquisitions (capital calls), fair value </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">changes and foreign currency changes on Level 3 investments in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:658.73pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:676.49pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:694.25pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:712.01pt;position:var(--position);text-decoration:none;white-space:pre"> were as follows:</span></div><div style="position:var(--position);top:167.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:366.75pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:294.75pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.58pt;position:var(--position);text-decoration:none;white-space:pre">Other Investments</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value at December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">13</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisitions</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">6</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value changes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">6</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value at December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">25</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisitions</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">4</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value changes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value at December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:275.97pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-266" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:298.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Classification of categories of financial assets and</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:654.3199999999999pt;position:var(--position);text-decoration:none;white-space:pre"> liabiliti</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:686.97pt;position:var(--position);text-decoration:none;white-space:pre">e</span><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:692.25pt;position:var(--position);text-decoration:none;white-space:pre">s</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:309.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab classifies its financial assets and liabilities held into the following measurement categories:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">those to be measured subsequently at fair value (either through other comprehensive income, or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">through profit or loss), and</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">those to be measured at amortized cost.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The classification depends on the business model for managing the financial assets and the contractual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">terms of the cash flows.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:403.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">For assets measured at fair value, gains and losses will either be recorded in profit or loss or other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">comprehensive income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:433.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab reclassifies debt investments only when its business model for managing those assets changes.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Further details about the accounting policy for each of the financial assets and liabilities are outlined in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">respective notes.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:482.62pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_991" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_991" style="color:inherit;text-decoration:inherit;z-index:1">Note 3.3</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:506.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_4032" style="color:inherit;text-decoration:inherit;z-index:1">4.8</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:517.95pt;position:var(--position);text-decoration:none;white-space:pre"> for detailed policies regarding Genmab’s lease liability and borrowings, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:492.22pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">respectively. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair value measurement</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab measures financial instruments, such as marketable securities, at fair value at each balance </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">sheet date. Management assessed that the fair value of financial assets and liabilities measured at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amortized cost such as bank deposits, receivables and other payables approximate their carrying amounts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">largely due to the short-term maturities of these instruments. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:172.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:183.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">transaction between market participants at the measurement date. The fair value measurement is based </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">on the presumption that the transaction to sell the asset or transfer the liability takes place either:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:213.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">In the principal market for the asset or liability, or</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:228.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">In the absence of a principal market, in the most advantageous market for the asset or liability.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The principal or the most advantageous market must be accessible by Genmab.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:266.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of an asset or a liability is measured using the assumptions that market participants would </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:277.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">use when pricing the asset or liability, assuming that market participants act in their economic best interest.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab uses valuation techniques that are appropriate in the circumstances and for which sufficient data </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">use of unobservable inputs.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:337.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">For financial instruments that are measured in the balance sheet at fair value, IFRS 13 requires disclosure </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:348.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of fair value measurements by level of the following fair value measurement hierarchy:</span></div><div style="position:var(--position);top:367.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:378pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">liability, either directly (that is, as prices) or indirectly (that is, derived from prices)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:33pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 3 - Inputs for the asset or liability that are not based on observable market data (that is, </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">unobservable inputs).</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:434.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab determines whether transfers have occurred between levels in the hierarchy by reassessing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">categorization (based on the lowest level input that is significant to the fair value measurement as a whole) </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">at the end of each reporting period. Any transfers between the different levels are carried out at the end of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the reporting period.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">4.4 - Marketable Securities</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:375.75pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:51pt"></td><td style="padding:0;width:44.25pt"></td><td style="padding:0;width:51pt"></td><td style="padding:0;width:44.25pt"></td><td style="padding:0;width:51pt"></td><td style="padding:0;width:44.25pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.97pt;position:var(--position);text-decoration:none;white-space:pre">Market value</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:44.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.79pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.97pt;position:var(--position);text-decoration:none;white-space:pre">Market value</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.79pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.97pt;position:var(--position);text-decoration:none;white-space:pre">Market value</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.79pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:11.25pt;width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.13pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:19.19pt;position:var(--position);text-decoration:none;white-space:pre">31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:11.25pt;width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:44.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.96pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:11.25pt;width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.13pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:19.19pt;position:var(--position);text-decoration:none;white-space:pre">31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:11.25pt;width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.96pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:11.25pt;width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:11.25pt;width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.96pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">USD portfolio</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:59.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:59.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:59.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.64pt;position:var(--position);text-decoration:none;white-space:pre">711</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:59.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">45<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:59.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">895</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:59.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">46<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">US government bonds </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">and treasury bills</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:71.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:71.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:71.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">355</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:71.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:71.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">481</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:71.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">24<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:92.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Commercial paper</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:92.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:92.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:92.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">27</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:92.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:92.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">67</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:92.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:104.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:104.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:104.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:104.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.64pt;position:var(--position);text-decoration:none;white-space:pre">114</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:104.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:104.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">149</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:104.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:116.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total USD portfolio</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:116.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:116.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:116.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,207</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:116.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:116.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,592</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:116.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">81<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:128.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK portfolio</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:140.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Kingdom of Denmark </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">bonds and treasury bills</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:140.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:140.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:140.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">60</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:140.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:140.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">62</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:140.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:161.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Danish mortgage-</span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">backed securities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:161.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:161.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:161.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">170</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:161.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:161.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">174</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:161.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:182.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total DKK portfolio</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:182.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:182.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:182.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">230</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:182.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:182.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">236</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:182.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:194.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">EUR portfolio</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:206.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">European government </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">bonds and treasury bills</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:206.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:206.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:206.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">124</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:206.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:206.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">127</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:206.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:227.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">GBP portfolio</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:239.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">UK government bonds </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">and treasury bills</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:239.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:239.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:239.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">13</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:239.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:239.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">12</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:239.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:260.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total portfolio</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:260.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:260.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:260.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,574</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:260.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:20.41pt;position:var(--position)"></span><span style="left:20.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:260.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,967</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:260.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:20.41pt;position:var(--position)"></span><span style="left:20.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:272.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Marketable securities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:272.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:272.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,574</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:272.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,967</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:423.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab liquidated all marketable securities during December 2025 to contribute to the financing of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:434.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Merus acquisition.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:453.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.11pt;position:var(--position);text-decoration:none;white-space:pre">4.2</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information regarding the risks related to our marketable securities.</a></span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-269" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Marketable securities are debt instruments that consist of investments in securities with a maturity of 90 </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">days or greater at the time of acquisition. Measurement of marketable securities depends on the business </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">model for managing the asset and the cash flow characteristics of the asset. Genmab assesses its debt </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">instruments to determine classification based on the following measurement categories:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Amortized cost: Assets that are held for collection of contractual cash flows, where those cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">represent solely payments of principal and interest, are measured at amortized cost. Interest income </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">from these financial assets is included in finance income using the effective interest rate method. Any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">gain or loss arising on derecognition is recognized directly in profit or loss and presented in other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:225.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">financial income or expenses, together with foreign exchange gains and losses. Impairment losses, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:236.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">when material, are presented as a separate line item in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Income.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:262.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Fair value through other comprehensive income (FVOCI): Assets that are held to achieve an objective </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:273.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">by both collecting contractual cash flows as well as selling financial assets and where those cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">represent solely payments of principal and interest, are measured at FVOCI. Changes in fair value on a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">debt investment that is subsequently measured at FVOCI are recognized in other comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:306.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">income. Impairment gains and losses, interest income and foreign exchange gains and losses are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">recognized in the Consolidated Statements of Comprehensive Income and presented within financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">income or expenses in the period in which they arise. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Fair value through profit and loss (FVPL): Assets that do not meet the criteria for amortized cost or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">FVPL is recognized in the Consolidated Statements of Comprehensive Income and presented net within </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">financial income or expenses in the period in which it arises.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:395.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s portfolio is managed and evaluated on a fair value basis in accordance with its stated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">investment guidelines and the information provided internally to Management. This business model does </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not meet the criteria for amortized cost or FVOCI and as a result marketable securities are measured at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:428.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">FVPL. This classification is consistent with the prior year’s classification.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:447.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab invests its cash in deposits with major financial institutions, in AAA rated money market funds, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Danish mortgage bonds, investment grade rated corporate debt, commercial paper, certificates of deposit, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:469.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">certain types of AAA rated asset backed securities, U.S. Agency bonds, and notes issued by the Danish, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:480.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">European and U.S. governments. The securities can be purchased and sold using established markets.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:499.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Transactions are recognized at the trade date.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">4.5 - Financial Income and Expenses</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.2pt;position:var(--position);text-decoration:none;white-space:pre">2024¹</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.2pt;position:var(--position);text-decoration:none;white-space:pre">2023¹</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial income:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Interest and other financial income</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">138<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">144<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">142<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">112<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">237<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">157<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on other investments, net</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate gain</span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">158<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">258<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial income</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">408<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">645<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">299<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial expenses:</span></div></div></div></td><td style="background-color:#FFFFFF;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#FFFFFF;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#FFFFFF;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:95.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other interest expense</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:95.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(34)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:95.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(18)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:95.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(10)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:107.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Interest expense on borrowings</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(27)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:119.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on marketable securities</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(46)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(107)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(174)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:131.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on other investments, net</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(4)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:143.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss</span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(161)</span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(166)</span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(66)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:155.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(269)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(291)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(254)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:167.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net financial items</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">354<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">45<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:318.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">Certain </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:459.49pt;position:var(--position);text-decoration:none;white-space:pre">reclassifications</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:508.85pt;position:var(--position);text-decoration:none;white-space:pre"> have been made between financial income and expenses for all periods </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:734.71pt;position:var(--position);text-decoration:none;white-space:pre">presented. </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:769.7pt;position:var(--position);text-decoration:none;white-space:pre">Refer to </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:327.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:bold;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_747" style="color:inherit;text-decoration:inherit;z-index:1">Note 1.4</a></span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:bold;left:462.21pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:464.15pt;position:var(--position);text-decoration:none;white-space:pre">for more information.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:346.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Interest Income</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:359.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Interest income was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:499.77pt;position:var(--position);text-decoration:none;white-space:pre">$138 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:542.37pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:553.02pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:570.78pt;position:var(--position);text-decoration:none;white-space:pre"> compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:619.62pt;position:var(--position);text-decoration:none;white-space:pre">$144 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:662.22pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:672.87pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:690.63pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:708.39pt;position:var(--position);text-decoration:none;white-space:pre">$142 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:750.99pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:761.64pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:779.4pt;position:var(--position);text-decoration:none;white-space:pre">. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:370.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">decrease</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:459.37pt;position:var(--position);text-decoration:none;white-space:pre"> of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:470.46999999999997pt;position:var(--position);text-decoration:none;white-space:pre">$6 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:504.19pt;position:var(--position);text-decoration:none;white-space:pre">, or </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:517.95pt;position:var(--position);text-decoration:none;white-space:pre">4%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:529.5pt;position:var(--position);text-decoration:none;white-space:pre"> from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:549.92pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:567.68pt;position:var(--position);text-decoration:none;white-space:pre"> to 2025 </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:598.76pt;position:var(--position);text-decoration:none;white-space:pre">was primarily driven by the lower average cash and cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:381.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">equivalents and marketable securities as a result of the ProfoundBio acquisition in the second quarter of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:392.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:444.27pt;position:var(--position);text-decoration:none;white-space:pre">, as well as lower interest rates of USD denominated marketable securities in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:718.1700000000001pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:735.9300000000001pt;position:var(--position);text-decoration:none;white-space:pre"> compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:784.77pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:802.53pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:403.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Additionally, Genmab liquidated its entire marketable security portfolio in December 2025 to contribute to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the financing of the Merus acquisition. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:578.64pt;position:var(--position);text-decoration:none;white-space:pre">increase</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:608.8299999999999pt;position:var(--position);text-decoration:none;white-space:pre"> of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:619.93pt;position:var(--position);text-decoration:none;white-space:pre">$2 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:653.65pt;position:var(--position);text-decoration:none;white-space:pre">, or </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:667.41pt;position:var(--position);text-decoration:none;white-space:pre">1%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:678.96pt;position:var(--position);text-decoration:none;white-space:pre"> from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:699.38pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:717.14pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:728.24pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:746pt;position:var(--position);text-decoration:none;white-space:pre">, was primarily </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:425.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">driven by the higher cash and cash equivalents and marketable securities in the first half of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:749.27pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:767.03pt;position:var(--position);text-decoration:none;white-space:pre"> compared </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:436.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:435.39pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:453.15pt;position:var(--position);text-decoration:none;white-space:pre">, almost entirely offset by lower cash and cash equivalents and marketable securities in the second </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:447.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">half of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:450.48pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:468.24pt;position:var(--position);text-decoration:none;white-space:pre"> compared to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:517.0799999999999pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:534.84pt;position:var(--position);text-decoration:none;white-space:pre"> as a result of liquidating marketable securities and using cash to purchase </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:477.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Interest Expense on Borrowings</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:490.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:442.49pt;position:var(--position);text-decoration:none;white-space:pre">increase</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:472.68pt;position:var(--position);text-decoration:none;white-space:pre"> of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:483.78pt;position:var(--position);text-decoration:none;white-space:pre">$27 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:521.94pt;position:var(--position);text-decoration:none;white-space:pre"> from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:542.36pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:560.12pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:571.22pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:588.98pt;position:var(--position);text-decoration:none;white-space:pre">, was primarily driven by interest expense associated with </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:501.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">debt issued in December 2025 in connection with financing the Merus acquisition. There was no interest </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.17pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expense on borrowings in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:519.74pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:537.5pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:555.26pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:573.02pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:531.17pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Refer to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre">Note </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.11pt;position:var(--position);text-decoration:none;white-space:pre">4.8</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"> for further details regarding Genmab borrowings.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Exchange Rate Gains and Losses</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss, net, which excludes foreign exchange rate movements on marketable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">securities, was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:91.46000000000001pt;position:var(--position);text-decoration:none;white-space:pre">$3 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:125.18pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:135.83pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:153.59pt;position:var(--position);text-decoration:none;white-space:pre"> compared to foreign exchange rate gains net of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:325.41pt;position:var(--position);text-decoration:none;white-space:pre">$92 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:363.57000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:374.22pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:391.98pt;position:var(--position);text-decoration:none;white-space:pre"> and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">foreign exchange rate loss, net of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:157.17pt;position:var(--position);text-decoration:none;white-space:pre">$66 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:195.32999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:205.98pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:223.73999999999998pt;position:var(--position);text-decoration:none;white-space:pre">. The change from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:290.64pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:308.40000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:319.5pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:337.26000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> is primarily driven by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">a lower exchange rate impact due to the change in functional currency of Genmab A/S from DKK to USD </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">on January 1, 2025. The change from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:172.13pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:189.89pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:200.98999999999998pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:218.75pt;position:var(--position);text-decoration:none;white-space:pre"> was primarily driven by foreign exchange rate </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:175.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">movements impacting Genmab’s USD denominated assets (excluding marketable securities) and liabilities, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:186.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">noting Genmab A/S functional currency was DKK during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:237.09pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:254.85pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:272.61pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:290.37pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1">Note 4.2</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1585" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information on foreign currency risk.</a></span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:222.92pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Marketable Securities Gains and Losses</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:235.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities, net, which includes the impact of foreign exchange rate movements, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:246.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:53.28pt;position:var(--position);text-decoration:none;white-space:pre">$66 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:91.44pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:102.09pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:119.85pt;position:var(--position);text-decoration:none;white-space:pre"> compared to gain on marketable securities, net of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:299.21000000000004pt;position:var(--position);text-decoration:none;white-space:pre">$130</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:316.97pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:327.62pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:345.38pt;position:var(--position);text-decoration:none;white-space:pre"> and loss on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:257.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities, net </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:130.08pt;position:var(--position);text-decoration:none;white-space:pre">$17 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:168.23999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:178.89pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:196.65pt;position:var(--position);text-decoration:none;white-space:pre">. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:216.93pt;position:var(--position);text-decoration:none;white-space:pre">decrease</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.79pt;position:var(--position);text-decoration:none;white-space:pre"> in gain, net of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:302.17pt;position:var(--position);text-decoration:none;white-space:pre">$64 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:340.33000000000004pt;position:var(--position);text-decoration:none;white-space:pre">, or </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:354.09000000000003pt;position:var(--position);text-decoration:none;white-space:pre">49%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:370.08000000000004pt;position:var(--position);text-decoration:none;white-space:pre">, from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:392.72pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:410.48pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:268.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.730000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:63.49pt;position:var(--position);text-decoration:none;white-space:pre"> was primarily driven by the change in the functional currency of Genmab A/S effective January 1, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:279.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2025. As the majority of Genmab’s investment portfolio is denominated in U.S. dollars, these securities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">benefited from the strengthening of the USD against the DKK in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:263.71000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:281.47pt;position:var(--position);text-decoration:none;white-space:pre">. In </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:294.79pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:312.55pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab’s DKK and EUR </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">denominated currencies strengthened against the USD, but to a lesser extent than the USD strengthening </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">against the DKK in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:105.22pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:122.97999999999999pt;position:var(--position);text-decoration:none;white-space:pre">. Additionally, Genmab liquidated its marketable security portfolio in December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:54.61pt;position:var(--position);text-decoration:none;white-space:pre"> to contribute to the financing of the Merus acquisition. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:264.01pt;position:var(--position);text-decoration:none;white-space:pre">increase</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:294.20000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> in gain of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:331.04pt;position:var(--position);text-decoration:none;white-space:pre">$147 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:373.64000000000004pt;position:var(--position);text-decoration:none;white-space:pre">, or </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:387.40000000000003pt;position:var(--position);text-decoration:none;white-space:pre">865%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:407.83000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">from </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.05pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:72.81pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:83.91pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:101.66999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> was primarily driven by foreign exchange rate movements impacting Genmab’s USD </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">denominated marketable securities. As the majority of Genmab’s investment portfolio is denominated in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:356.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">U.S. dollars, these securities benefited from the strengthening of the USD against the DKK in 2024, as </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:367.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">compared to the USD weakening against the DKK in 2023.</span></div><div style="position:var(--position);top:386.52pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-271" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:408.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Financial income and expenses include interest as well as foreign exchange rate adjustments and gains </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:419.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and losses on marketable securities (designated as FVPL) and realized gains and losses and write-downs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of other securities and equity interests.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:449.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Interest income is shown separately from gains and losses on marketable securities and other securities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:460.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and equity interests.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.6 - Share-Based Instruments</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Restricted Stock Unit Program</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:139.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab A/S has established an RSU program (equity-settled share-based payment transactions) as an incentive for Genmab’s employees, members of the Executive Management, and members of the Board of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:150.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Directors. RSUs granted to Executive Management are performance-based (PSUs)</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:331.21000000000004pt;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:334.1pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:169.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">RSUs are granted by the Board of Directors. RSU grants to members of the Board of Directors and members of the registered Executive Management are subject to the Remuneration Policy adopted at the Annual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:180.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">General Meeting.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:199.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">See the table below for a summary of key terms of Genmab’s RSU programs:</span></div><div style="position:var(--position);top:218.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:766.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:142.5pt"></td><td style="padding:0;width:312pt"></td><td style="padding:0;width:312pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt dotted #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);width:624pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:267.44pt;position:var(--position);text-decoration:none;white-space:pre">RSUs Granted in Periods</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:142.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.09pt;position:var(--position);text-decoration:none;white-space:pre">Key Terms</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:11.25pt;width:312pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:99.76pt;position:var(--position);text-decoration:none;white-space:pre">December 2019 - February 2021</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:454.5pt;position:var(--position);top:11.25pt;width:312pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:120.18pt;position:var(--position);text-decoration:none;white-space:pre">From February 2021</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:142.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Grants</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt dotted #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:22.5pt;width:624pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSUs are granted at no cost to employees. Number of shares granted is determined based on closing share price on the grant date.</span></div></div></div></td></tr><tr style="height:60.75pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:142.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Vesting (Settlement)</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt dotted #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:34.5pt;width:624pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cliff vesting – RSUs become fully vested on the first banking day of the month following a period of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:341.09pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">three years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:379.73pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> from the grant date. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:466.59pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">three years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:505.23pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> cliff vesting also applies to PSUs, </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">while also subject to the degree of fulfilment of the applicable performance criteria. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:24.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">After RSUs vest, the holder receives </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:129.17000000000002pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:142.13pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> share in Genmab A/S for each RSU granted. In jurisdictions in which Genmab as an employer is required to withhold tax and settle with the </span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">tax authority on behalf of the employee, Genmab withholds the number of RSUs that are equal to the monetary value of the employee’s tax obligation from the total number of RSUs </span></div><div style="line-height:8pt;position:var(--position);top:42.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">that otherwise would have been issued to the employee upon vesting (“net settlement”). Genmab A/S may at its sole discretion in extraordinary circumstances choose to make a </span></div><div style="line-height:8pt;position:var(--position);top:51.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">cash settlement instead of delivering shares.</span></div></div></div></td></tr><tr style="height:74.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:95.25pt;width:142.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leaver </span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:95.25pt;width:312pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leavers – Forfeit all unvested RSUs except when due to retirement, death, serious </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">sickness, or serious injury, in which case granted but not yet vested RSUs shall remain </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">outstanding and will be settled in accordance with their terms.</span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Notwithstanding the above, the December 2020 RSU grant to members of the Board was </span></div><div style="line-height:8pt;position:var(--position);top:42.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">made subject to pro-rata vesting upon termination of board services.</span></div><div style="line-height:8pt;position:var(--position);top:55.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Employees and Executive Management – RSUs remain outstanding and vest accordingly </span></div><div style="line-height:8pt;position:var(--position);top:64.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">when the employment relationship is terminated by Genmab without cause.</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:454.5pt;position:var(--position);top:95.25pt;width:312pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Good-Leavers</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:51.81pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2 </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">– May maintain a pro-rata portion of unvested RSUs.</span></div><div style="line-height:8pt;position:var(--position);top:15.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Bad-Leavers</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:46.6pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.42pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> – Forfeit all unvested RSUs.</span></div><div style="line-height:8pt;position:var(--position);top:28.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Death – Forfeit all unvested RSUs.</span></div><div style="line-height:8pt;position:var(--position);top:41.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Voluntary leavers forfeit unvested RSUs.</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:400.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Annual bonuses are paid in cash, with a portion convertible into deferred RSUs, following the determination of achievement against performance goals and KPIs. The vesting of deferred RSUs is not contingent upon continued service and is not </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:409.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">subject to any forward-looking performance criteria.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:418.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">“Good-Leaver” - Dismissal without cause or termination of employment due to Genmab’s material breach of the RSU or Warrant holder’s employment terms, or if the participant is a member of the Board, if the membership of the Board ceases for </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:427.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">any other reason than as a result of the participant’s death.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:435.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">“Bad-leaver” - Dismissed for cause or during the employment probationary period.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:454.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The RSU program contains anti-dilution provisions if changes occur in Genmab’s share capital prior to the vesting date and provisions to accelerate vesting of RSUs in the event of change of control as defined in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:465.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">RSU program.</span></div><div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">RSU Activity in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:114.93pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:138.25pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:144.07pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:167.39pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:191.85999999999999pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:263.25pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:65.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.08pt;position:var(--position);text-decoration:none;white-space:pre">held by the Board </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.33pt;position:var(--position);text-decoration:none;white-space:pre">of Directors</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.81pt;position:var(--position);text-decoration:none;white-space:pre">held by the </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.37pt;position:var(--position);text-decoration:none;white-space:pre">Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.56pt;position:var(--position);text-decoration:none;white-space:pre">Management</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:43.13pt;position:var(--position);text-decoration:none;white-space:pre">held by </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.62pt;position:var(--position);text-decoration:none;white-space:pre">employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.33pt;position:var(--position);text-decoration:none;white-space:pre">held by former </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.58pt;position:var(--position);text-decoration:none;white-space:pre">members of the </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.37pt;position:var(--position);text-decoration:none;white-space:pre">Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.48pt;position:var(--position);text-decoration:none;white-space:pre">Management, </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.6pt;position:var(--position);text-decoration:none;white-space:pre">Board of Directors </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.21pt;position:var(--position);text-decoration:none;white-space:pre">and employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.4pt;position:var(--position);text-decoration:none;white-space:pre">Total RSUs</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.99pt;position:var(--position);text-decoration:none;white-space:pre">Weighted Average </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.91pt;position:var(--position);text-decoration:none;white-space:pre">Fair Value - RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.76pt;position:var(--position);text-decoration:none;white-space:pre">Granted - DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.42pt;position:var(--position);text-decoration:none;white-space:pre">Total Fair Value of </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14pt;position:var(--position);text-decoration:none;white-space:pre">RSUs Granted - </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.92pt;position:var(--position);text-decoration:none;white-space:pre">DKK million</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2023</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,819<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">112,331<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">423,142<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,846<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">548,138<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,361<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">75,854<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">208,353<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">11,643<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">299,211<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,619.35<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">784<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Settled</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,880)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(35,773)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(54,871)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(9,805)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(102,329)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:101.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transferred</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">12,918<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(55,103)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">42,185<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:113.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(4,357)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(35)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(37,984)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(42,376)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,300<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">160,973<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">521,486<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">9,885<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">702,644<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:153pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,300<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">160,973<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">521,486<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">9,885<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">702,644<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:165pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,097<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">121,063<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">344,068<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,484<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">486,712<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,977.87<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">963<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:177pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Settled</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,367)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(35,320)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(112,663)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(12,465)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(163,815)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:189pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transferred</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(19,924)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(37,348)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">57,272<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:201pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(11,667)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(71)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(38,178)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(49,916)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:213pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,030<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">215,125<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">715,472<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">30,998<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">975,625<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,030<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">215,125<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">715,472<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">30,998<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">975,625<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:252.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,828<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">136,205<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">471,443<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">39,635<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">658,111<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,611.15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,060<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:264.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Settled</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,383)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(33,690)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(157,268)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(31,781)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(226,122)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:276.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transferred</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">997<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(12,482)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(89,642)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">101,127<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:288.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(672)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,449)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(91,693)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(98,828)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:300.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">21,800<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">298,709<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">939,991<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">48,286<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,308,786<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:446.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">RSUs held by the Board of Directors include RSUs granted to employee-elected Board Members as employees of Genmab A/S or its subsidiaries.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:465.07pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information regarding compensation of the Executive Management and the Board of Directors.</a></span></div></div><div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Warrant Program</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab A/S has established a warrant program (equity-settled share-based payment transactions) as an incentive for all the Genmab Group’s employees.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:139.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Warrants are granted by the Board of Directors in accordance with authorizations given to it by Genmab A/S’s shareholders.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:158.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Following Genmab’s Annual General Meeting on March 29, 2023, members of the registered Executive Management and members of the Board of Directors may only be granted RSUs.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:177.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">See the table below for a summary of key terms of Genmab’s warrant programs:</span></div><div style="position:var(--position);top:196.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:143.25pt"></td><td style="padding:0;width:156.75pt"></td><td style="padding:0;width:156.75pt"></td><td style="padding:0;width:310.5pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);width:624pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:261.2pt;position:var(--position);text-decoration:none;white-space:pre">Warrants Granted in Periods</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Key Terms</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:11.25pt;width:313.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:107.59pt;position:var(--position);text-decoration:none;white-space:pre">March 2017 - February 2021</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:456.75pt;position:var(--position);top:11.25pt;width:310.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:119.43pt;position:var(--position);text-decoration:none;white-space:pre">From February 2021</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Grants</span></div></div></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:22.5pt;width:624pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants are granted at no cost to employees. Granted at an exercise price equal to the closing share price on the grant date.</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Vesting (Exercisable)</span></div></div></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:34.5pt;width:624pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cliff vesting over </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.470000000000006pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:65.78999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">-year period (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.6pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">100%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:131.54999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> after </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:151.13pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">three years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:189.76999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">)</span></div></div></div></td></tr><tr style="height:51pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Leaver</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:46.5pt;width:313.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leavers - Forfeit all unvested warrants; however, will be able to exercise pro-rata portion </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">of warrants on a regular schedule in instances where the employment relationship is </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">terminated by Genmab without cause.</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:456.75pt;position:var(--position);top:46.5pt;width:310.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Good-Leavers - May maintain a pro-rata portion of unvested warrants.</span></div><div style="line-height:8pt;position:var(--position);top:15.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Bad-Leavers - Forfeit all unvested warrants.</span></div><div style="line-height:8pt;position:var(--position);top:28.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Death - Forfeit all unvested warrants.</span></div><div style="line-height:8pt;position:var(--position);top:41.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Voluntary leavers forfeit all unvested warrants.</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:97.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Lapse</span></div></div></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:97.5pt;width:624pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:262.9pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">7th anniversary of grant date</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The warrant program contains anti-dilution provisions if changes occur in Genmab’s share capital prior to the warrants being </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:476.63pt;position:var(--position);text-decoration:none;white-space:pre">exercised</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:510.82000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> and provisions to accelerate vesting of warrants in the event of change of control </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:329.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">or certain other extraordinary transactions as defined in the warrant program.</span></div></div><div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Warrant Activity in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:132.4pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:155.72pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:161.54pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:184.85999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:209.32999999999998pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:191.25pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:65.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.25pt;position:var(--position);text-decoration:none;white-space:pre">the Board of </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.48pt;position:var(--position);text-decoration:none;white-space:pre">Directors</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.05pt;position:var(--position);text-decoration:none;white-space:pre">the Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.56pt;position:var(--position);text-decoration:none;white-space:pre">Management</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.62pt;position:var(--position);text-decoration:none;white-space:pre">employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:10.25pt;position:var(--position);text-decoration:none;white-space:pre">former members </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.9pt;position:var(--position);text-decoration:none;white-space:pre">of the Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.48pt;position:var(--position);text-decoration:none;white-space:pre">Management, </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.6pt;position:var(--position);text-decoration:none;white-space:pre">Board of Directors </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.21pt;position:var(--position);text-decoration:none;white-space:pre">and employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.16pt;position:var(--position);text-decoration:none;white-space:pre">Total warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.23pt;position:var(--position);text-decoration:none;white-space:pre">Weighted average </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.8pt;position:var(--position);text-decoration:none;white-space:pre">exercise price - </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.14pt;position:var(--position);text-decoration:none;white-space:pre">DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.23pt;position:var(--position);text-decoration:none;white-space:pre">Weighted average </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.64pt;position:var(--position);text-decoration:none;white-space:pre">share price at </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.3pt;position:var(--position);text-decoration:none;white-space:pre">exercise date - </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.14pt;position:var(--position);text-decoration:none;white-space:pre">DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.24pt;position:var(--position);text-decoration:none;white-space:pre">Outstanding </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.44pt;position:var(--position);text-decoration:none;white-space:pre">Warrants - % of </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.48pt;position:var(--position);text-decoration:none;white-space:pre">Share Capital</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2023</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,920<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">129,798<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">773,014<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">33,236<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">937,968<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,770.31<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">403<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">198,001<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,973<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">209,377<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,632.02<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercised</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(11,900)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(74,672)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(26,390)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(112,962)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,341.40<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,657.76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:101.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expired</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,200)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(117)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,317)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,225.18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:113.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(32)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(43,143)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(43,175)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,274.50<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">21,295<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(103,396)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">82,101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:137.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,323<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">139,193<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">791,715<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">56,660<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">989,891<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,980.25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:57.04pt;position:var(--position)"></span><span style="left:57.04pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:149.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable at year end</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">875<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">123,345<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">246,635<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">45,686<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">416,541<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,416.25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:161.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable warrants in the money at year end</span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">617<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">123,345<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">192,945<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">43,632<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">360,539<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,272.37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:173.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2024</span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,323<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">139,193<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">791,715<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">56,660<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">989,891<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,980.25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:185.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">694<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">354,255<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,898<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">369,847<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,974.71<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:197.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercised</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(63,811)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(31,721)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(17,119)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(112,651)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,143.29<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,877.19<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:209.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expired</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(155)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(132)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(287)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,032.00<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:221.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(73)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(39,564)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(39,637)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,300.10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:233.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">555<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(53,903)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">53,348<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:245.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">75,937<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,060,118<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">68,091<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,207,163<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,046.38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:57.04pt;position:var(--position)"></span><span style="left:57.04pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:257.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable at year end</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,226<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">63,405<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">321,099<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">60,686<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">446,416<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,759.86<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:269.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable warrants in the money at year end</span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">46,166<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">77,669<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">25,477<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">149,312<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,131.68<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:281.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2025</span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">75,937<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,060,118<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">68,091<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,207,163<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,046.38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:293.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">835<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">504,180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">42,373<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">547,388<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,613.94<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:305.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercised</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(46,166)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(51,271)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(30,638)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(128,075)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,139.53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,689.89<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:317.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expired</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(468)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,605)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(2,073)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">989.32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:329.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(92,764)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(92,778)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,936.81<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:341.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,934<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,556)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(128,054)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">129,676<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:353.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">5,786<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">26,215<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,384,491<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">115,133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,531,625<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,975.81<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:57.04pt;position:var(--position)"></span><span style="left:57.04pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:365.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable at year end</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,325<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">22,442<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">411,526<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">96,028<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">532,321<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,109.73<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:377.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable warrants in the money at year end</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">617<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">5,597<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">88,025<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">23,214<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">117,453<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,546.60<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:522.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Warrants held by the Board include warrants granted to employee-elected Board Members as employees of Genmab A/S or its subsidiaries.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:541.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information regarding compensation of the Executive Management and the Board of Directors.</a></span></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Weighted Average Outstanding Warrants at December 31, </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:327.64000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:109.66999999999999pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.43pt;position:var(--position);text-decoration:none;white-space:pre">, the range of exe</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:189.59pt;position:var(--position);text-decoration:none;white-space:pre">rcise prices for outstanding warrants was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:336.54pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:355.19pt;position:var(--position);text-decoration:none;white-space:pre">962</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:368.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:379.61pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3,172</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.83pt;position:var(--position);text-decoration:none;white-space:pre"> with a weighted average remaining contractual life of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:247.26pt;position:var(--position);text-decoration:none;white-space:pre">4.42 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:284.56pt;position:var(--position);text-decoration:none;white-space:pre">. As of December 31, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:361.38pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:379.14000000000004pt;position:var(--position);text-decoration:none;white-space:pre">, the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">range of exercise prices for outstanding warrants was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:228.2pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:246.85pt;position:var(--position);text-decoration:none;white-space:pre">962</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:260.17pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:271.27pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:289.92pt;position:var(--position);text-decoration:none;white-space:pre">3,172</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:309.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> with a weighted average </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">remaining contractual life of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:136.72pt;position:var(--position);text-decoration:none;white-space:pre">4.24 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:174.01999999999998pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="position:var(--position);top:172.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-277" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:194.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation Expenses</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation expense is recognized in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Income based on the estimated fair value of the awards at grant date. Subsequently, the fair value is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not remeasured. The expense recognized reflects an estimate of the number of awards expected to vest </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">after taking into consideration an estimate of award forfeitures based on historical experience and is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognized on a straight-line basis over the requisite service period, which is the vesting period. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab reassesses its estimate of the number of shares expected to vest periodically.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:279.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management expectations related to the achievement of performance goals associated with performance-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">based RSU grants are assessed periodically, and that assessment is used to determine whether such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">grants are expected to vest or if any revision to the current estimate is required. Genmab recognizes the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">impact of the revised estimate of the number of awards expected to vest, if any, as an adjustment to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income statement over the remaining vesting period. If performance-based milestones related to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performance-based RSU grants are not met or not expected to be met, any share-based compensation </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expense recognized to date associated with grants that are not expected to vest will be reversed.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:364.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation expenses represent calculated values of warrants, RSUs and performance-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:375.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">based RSUs granted and do not represent actual cash expenditures. A corresponding amount is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognized in shareholders’ equity as the warrant, RSU and performance-based RSU programs are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:397.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">designated as equity-settled share-based payment transactions.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of each RSU and performance-based RSU granted during the year is calculated using </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the closing share price on the grant date. Below is a description of how the fair value of warrants is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:438.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">measured and the estimates involved.</span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:266.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:249pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-278" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:249pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:249pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation Expenses</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of each warrant granted during the year is calculated using the Black-Scholes pricing model. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">This pricing model requires the input of subjective assumptions such as:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:171.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:452.41pt;position:var(--position);text-decoration:none;white-space:pre">expected stock price volatility</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:566.04pt;position:var(--position);text-decoration:none;white-space:pre">, which is based upon the historical volatility of Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:182.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">stock price; </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:197.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:452.41pt;position:var(--position);text-decoration:none;white-space:pre">risk-free interest rate</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:531.87pt;position:var(--position);text-decoration:none;white-space:pre">,</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:534.09pt;position:var(--position);text-decoration:none;white-space:pre"> which is determined as the interest rate on Danish government bonds </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:208.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">(bullet issues) with an average maturity of five years; </span></div><div style="font-size:12pt;line-height:9pt;position:var(--position);top:223.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">The </span><span style="font-family:'Arial', sans-serif;font-size:9pt;font-style:normal;font-weight:bold;left:452.41pt;position:var(--position);text-decoration:none;white-space:pre">expected life of warrants</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:557.83pt;position:var(--position);text-decoration:none;white-space:pre">,</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:560.05pt;position:var(--position);text-decoration:none;white-space:pre"> which is based on vesting terms, expected rate of exercise and life </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:234.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:436.43pt;position:var(--position);text-decoration:none;white-space:pre">terms in the current warrant program.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">These assumptions can vary over time and can change the fair value of future warrants granted.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:272.37pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Valuation Assumptions for Warrants Granted in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:666.5799999999999pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:689.9pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:695.72pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:719.04pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:743.51pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of each warrant granted during the year is calculated using the Black-Scholes pricing model </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">with the following assumptions:</span></div><div style="position:var(--position);top:314.97pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Weighted average</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value per warrant on grant date</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.43pt"></span></span><span style="left:37.06pt;position:var(--position)">503.09<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.43pt"></span></span><span style="left:37.06pt;position:var(--position)">639.67<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.43pt"></span></span><span style="left:37.06pt;position:var(--position)">924.10<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share price</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,613.94<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,974.71<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">2,632.02<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise price</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,613.94<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,974.71<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">2,632.02<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expected dividend yield</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:53.48pt;position:var(--position)"></span><span style="left:53.48pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:53.48pt;position:var(--position)"></span><span style="left:53.48pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:53.48pt;position:var(--position)"></span><span style="left:53.48pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expected stock price volatility</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">31.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">32.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">35.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Risk-free interest rate</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">2.05<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">2.26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">2.48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expected life of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.17pt;position:var(--position);text-decoration:none;white-space:pre">5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.17pt;position:var(--position);text-decoration:none;white-space:pre">5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.17pt;position:var(--position);text-decoration:none;white-space:pre">5 years</span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:423.22pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Total Fair Value of Amounts Granted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Total fair value of warrants granted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.56pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.21pt;position:var(--position);text-decoration:none;white-space:pre">275</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.53pt;position:var(--position);text-decoration:none;white-space:pre"> million</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.56pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.21pt;position:var(--position);text-decoration:none;white-space:pre">237</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.53pt;position:var(--position);text-decoration:none;white-space:pre"> million</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.56pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.21pt;position:var(--position);text-decoration:none;white-space:pre">193</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.53pt;position:var(--position);text-decoration:none;white-space:pre"> million</span></div></div></div></td></tr></tbody></table></div></div></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.7 - Share Capital</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:126.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share Capital</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:139.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The share capital comprises the nominal amount of Genmab A/S ordinary shares, each at a nominal value </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:150.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.730000000000004pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.38pt;position:var(--position);text-decoration:none;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:68.82pt;position:var(--position);text-decoration:none;white-space:pre">. All shares are fully paid.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:169.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.28pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.43pt;position:var(--position);text-decoration:none;white-space:pre">, the share capital of Genmab A/S comprised </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:288.16pt;position:var(--position);text-decoration:none;white-space:pre">64,238,408</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:328.12pt;position:var(--position);text-decoration:none;white-space:pre"> shares of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:365.42pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:384.07000000000005pt;position:var(--position);text-decoration:none;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:388.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:180.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">each with </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:72.81pt;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:86.13pt;position:var(--position);text-decoration:none;white-space:pre"> vote. There are no restrictions related to the transferability of the shares. All shares </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:191.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are regarded as negotiable instruments and do not confer any special rights upon the holder, and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:202.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">no shareholder shall be under an obligation to allow his/her shares to be redeemed.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:221.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s Board is authorized to increase the share capital by subscription of new shares, issue warrants </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:232.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to subscribe for shares and raise loans against bonds as well as other financial instruments of Genmab A/S </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:243.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">as set out in articles 4A-5B of Genmab A/S’s articles of association. Further, Genmab’s share capital is in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:254.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">compliance with the capital requirements of the Danish Companies Act and the rules of Nasdaq </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:265.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Copenhagen.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">See table below for warrants issued and reissued and warrants available for reissue under active </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">authorizations as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:108.33000000000001pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:178.48pt;position:var(--position);text-decoration:none;white-space:pre">:</span></div><div style="position:var(--position);top:314.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.04pt;position:var(--position);text-decoration:none;white-space:pre">March 12, 2025</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.04pt;position:var(--position);text-decoration:none;white-space:pre">March 13, 2024</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.05pt;position:var(--position);text-decoration:none;white-space:pre">April 13, 2021</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.09pt;position:var(--position);text-decoration:none;white-space:pre">Authorization</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.09pt;position:var(--position);text-decoration:none;white-space:pre">Authorization</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.09pt;position:var(--position);text-decoration:none;white-space:pre">Authorization</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants issued</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">358,760<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">750,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants reissued</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">65,463<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants available for issue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">750,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">391,240<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants available for reissue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">30,310<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">38,731<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:397.82pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share Premium</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The share premium reserve is comprised of the amount received, attributable to shareholders’ equity, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in excess of the nominal amount of the shares issued at the parent company’s offerings, reduced by any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">external expenses directly attributable to the offerings. The share premium reserve can be distributed.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:451.42pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Changes in Share Capital During </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:202.93pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:226.25pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:241.97pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:464.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The share capital of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:109.21000000000001pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.86000000000001pt;position:var(--position);text-decoration:none;white-space:pre">64 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:161.58pt;position:var(--position);text-decoration:none;white-space:pre"> at </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:172.68pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:242.82999999999998pt;position:var(--position);text-decoration:none;white-space:pre">, is divided into </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:297.87pt;position:var(--position);text-decoration:none;white-space:pre">64,238,408</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:337.83000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> shares at a nominal </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:475.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">value of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:67.04pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.69pt;position:var(--position);text-decoration:none;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:90.13pt;position:var(--position);text-decoration:none;white-space:pre"> each</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:109.66999999999999pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:93pt"></td><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:57pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:111pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td rowspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="height:31.5pt;left:93pt;overflow:hidden;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:13.97pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.04pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:22.97pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.33pt;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);width:57pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.6pt;position:var(--position);text-decoration:none;white-space:pre">Share capital</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.35pt;position:var(--position);text-decoration:none;white-space:pre">Share capital</span></div></div></div></td><td rowspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);width:111pt"><div><div style="line-height:7.5pt;position:var(--position);top:22.97pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:35.26pt;position:var(--position);text-decoration:none;white-space:pre">Share Price Ranges</span><span style="font-family:'Arial', sans-serif;font-size:4.875pt;font-style:normal;font-weight:bold;left:105.66pt;position:var(--position);text-decoration:none;top:-1.9109999999999998pt;vertical-align:super;white-space:pre">1</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:11.25pt;width:57pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.94pt;position:var(--position);text-decoration:none;white-space:pre">(DKK million)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:11.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.81pt;position:var(--position);text-decoration:none;white-space:pre">(USD </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.49pt;position:var(--position);text-decoration:none;white-space:pre">million)</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:31.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">65,961,573<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:31.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:43.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.35pt"></span></span><span style="left:32.980000000000004pt;position:var(--position)">112,962<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:43.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);top:43.5pt;width:111pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.8pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">815.50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.5pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> to DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.28999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1,948.00</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:55.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">66,074,535<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:55.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:67.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.35pt"></span></span><span style="left:32.980000000000004pt;position:var(--position)">112,651<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:67.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);top:67.5pt;width:111pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.8pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">962.00</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.5pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> to DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.28999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1,615.00</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:79.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">66,187,186<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:79.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:91.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.35pt"></span></span><span style="left:32.980000000000004pt;position:var(--position)">128,075<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:91.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);top:91.5pt;width:111pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.8pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">962.00</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.5pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> to DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.28999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1,615.00</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share capital reduction</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:103.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.03pt"></span></span><span style="left:23.66pt;position:var(--position)">(2,076,853)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:103.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.61pt;position:var(--position);text-decoration:none;white-space:pre">(2)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:115.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">64,238,408<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:115.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">64</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:248.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">New shares were subscribed at share prices in connection with the exercise of warrants under Genmab’s warrant </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:257.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">program.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:276.22pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Treasury Shares</span></div><div style="position:var(--position);top:288.82pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.66pt;position:var(--position);text-decoration:none;white-space:pre">Number of shares</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.72pt;position:var(--position);text-decoration:none;white-space:pre">Share capital</span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.27pt;position:var(--position);text-decoration:none;white-space:pre"> (USD million)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.93pt;position:var(--position);text-decoration:none;white-space:pre">Proportion of </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.81pt;position:var(--position);text-decoration:none;white-space:pre">share capital %</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.72pt;position:var(--position);text-decoration:none;white-space:pre">Cost</span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.35pt;position:var(--position);text-decoration:none;white-space:pre">(USD million)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.51pt;position:var(--position);text-decoration:none;white-space:pre">589,948</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">0.9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">201</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Purchase of treasury </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.51pt;position:var(--position);text-decoration:none;white-space:pre">220,000</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">0.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">81</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:62.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shares used for funding </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSU program</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(65,778)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(0.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(18)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.51pt;position:var(--position);text-decoration:none;white-space:pre">744,170</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">1.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">263</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:104.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Purchase of treasury </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:34.44pt;position:var(--position);text-decoration:none;white-space:pre">2,011,853</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">3.0<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">560</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shares used for funding </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSU program</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.19pt;position:var(--position);text-decoration:none;white-space:pre">(109,016)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(0.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(36)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:33.85pt;position:var(--position);text-decoration:none;white-space:pre">2,647,007</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">4.0<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">787</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:167.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Purchase of treasury </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:33.85pt;position:var(--position);text-decoration:none;white-space:pre">2,200,000</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">3.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">430<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:188.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shares used for funding </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSU program</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.19pt;position:var(--position);text-decoration:none;white-space:pre">(150,749)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(0.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(53)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:209.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Reduction in share </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">capital</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:28.53pt;position:var(--position);text-decoration:none;white-space:pre">(2,076,853)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.2pt"></span></span><span style="left:54.830000000000005pt;position:var(--position)">(0.3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(3.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(572)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:230.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:33.85pt;position:var(--position);text-decoration:none;white-space:pre">2,619,405</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">4.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">592</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share Repurchases</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">At Genmab’s Annual General Meeting on </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:184.10999999999999pt;position:var(--position);text-decoration:none;white-space:pre">March 12, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:239.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre">, the Board of Directors was authorized to allow </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab to acquire treasury shares with a total nominal value of up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:285.02pt;position:var(--position);text-decoration:none;white-space:pre">10%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:301.01000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> of the share capital in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">period until and including March 11, 2030. The purchase price for the relevant shares may not deviate by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">more than </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:75.03pt;position:var(--position);text-decoration:none;white-space:pre">10%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:91.02000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> from the price quoted on Nasdaq Copenhagen at the time of the acquisition. Such shares </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">may only be acquired to the extent that the Company’s total holding of treasury shares does not at any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:175.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">time exceed a nominal value of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:149.17pt;position:var(--position);text-decoration:none;white-space:pre">10%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:165.16pt;position:var(--position);text-decoration:none;white-space:pre"> of the share capital. The authorization replaced existing previously </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:186.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">provided authorizations to purchase treasury shares.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As announced on March 25, 2025, Genmab initiated a share buy-back program to reduce capital and to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">honor our commitments under the RSU program. During </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:237.95pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:255.71pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab acquired </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:325.86pt;position:var(--position);text-decoration:none;white-space:pre">2,200,000</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:361.38pt;position:var(--position);text-decoration:none;white-space:pre"> of its own </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">shares under the program, representing approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:231.73999999999998pt;position:var(--position);text-decoration:none;white-space:pre">3.3%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.95pt;position:var(--position);text-decoration:none;white-space:pre"> of share capital as of December 31, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:380.48pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:398.24pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total amount incurred to acquire the shares, including directly attributable costs, was </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:351.6pt;position:var(--position);text-decoration:none;white-space:pre">$430 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:394.20000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">was recognized as a deduction to shareholders’ equity. During </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:258.39pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:276.15000000000003pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab acquired </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:346.3pt;position:var(--position);text-decoration:none;white-space:pre">2,011,853</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:381.23pt;position:var(--position);text-decoration:none;white-space:pre"> of its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">own shares, representing approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:180.69pt;position:var(--position);text-decoration:none;white-space:pre">3.0%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:198.9pt;position:var(--position);text-decoration:none;white-space:pre"> of share capital as of December 31, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:329.43pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:347.19pt;position:var(--position);text-decoration:none;white-space:pre">. The total amount </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">paid to acquire the shares, including directly attributable costs, was</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:273.47pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:275.69pt;position:var(--position);text-decoration:none;white-space:pre">$560 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:318.29pt;position:var(--position);text-decoration:none;white-space:pre"> and was recognized as a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">deduction to shareholders’ equity. These shares are classified as treasury shares and are presented within </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:293.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">retained earnings on the Consolidated Balance Sheets as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:251.73pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:321.88pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:57.28pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.43pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:131.87pt;position:var(--position);text-decoration:none;white-space:pre">3,804,436</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:167.39pt;position:var(--position);text-decoration:none;white-space:pre"> shares were available for repurchase and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:318.33000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2,619,405</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:353.85pt;position:var(--position);text-decoration:none;white-space:pre"> treasury shares </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">were held by Genmab.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:342.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share Capital Reduction</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:354.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">At Genmab’s Annual General Meeting on </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:184.10999999999999pt;position:var(--position);text-decoration:none;white-space:pre">March 12, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:239.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre">, the decision was made to reduce the share </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:365.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">capital of nominally DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:125.63pt;position:var(--position);text-decoration:none;white-space:pre">2,076,853</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:161.15pt;position:var(--position);text-decoration:none;white-space:pre"> by cancellation of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:227.29999999999998pt;position:var(--position);text-decoration:none;white-space:pre">2,076,853</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:262.82pt;position:var(--position);text-decoration:none;white-space:pre"> of the Company’s holding of shares with a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:376.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">nominal value of DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:115.87pt;position:var(--position);text-decoration:none;white-space:pre">1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:120.31pt;position:var(--position);text-decoration:none;white-space:pre"> each. On April 10, 2025, the capital reduction was registered with the Danish </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:387.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Business Authority.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.8 - Borrowings</span><div style="position:var(--position);top:425.92pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:91.5pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:3pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);width:141.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:141.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:112.07pt;position:var(--position);text-decoration:none;white-space:pre">Current</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);width:141.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:141.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:95.01pt;position:var(--position);text-decoration:none;white-space:pre">Non-Current</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.54pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.54pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:42.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan A (Secured)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.33pt"></span></span><span style="left:34.96pt;position:var(--position)">53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">909<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:54.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan B (Secured)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">207<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.23pt"></span></span><span style="left:23.86pt;position:var(--position)">1,707<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:66.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Secured Notes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.77pt"></span></span><span style="left:39.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.23pt"></span></span><span style="left:23.86pt;position:var(--position)">1,434<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:78.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Unsecured Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.77pt"></span></span><span style="left:39.400000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">951<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:90.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total Borrowings</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">273<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.23pt"></span></span><span style="left:23.86pt;position:var(--position)">5,001<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Terms and conditions of borrowings </span></div><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:42.31pt;position:var(--position);text-decoration:none;white-space:pre">Interest</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.92pt;position:var(--position);text-decoration:none;white-space:pre">Maturity Date</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.73pt;position:var(--position);text-decoration:none;white-space:pre">Nominal Value</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan A (Secured)</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:26.75pt;position:var(--position);text-decoration:none;white-space:pre">5.48%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.4pt;position:var(--position);text-decoration:none;white-space:pre"> Float</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2030</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan B (Secured)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:26.75pt;position:var(--position);text-decoration:none;white-space:pre">6.73%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.4pt;position:var(--position);text-decoration:none;white-space:pre"> Float</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2032</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Secured Notes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:24.97pt;position:var(--position);text-decoration:none;white-space:pre">6.25%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:47.62pt;position:var(--position);text-decoration:none;white-space:pre"> Fixed</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2032</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,500<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Unsecured Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:24.97pt;position:var(--position);text-decoration:none;white-space:pre">7.25%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:47.62pt;position:var(--position);text-decoration:none;white-space:pre"> Fixed</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2033</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">5,500<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:204.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">The interest rate listed is the current percentage as of December 31, 2025, and is subject to change. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:223.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Contractual undiscounted cash flows</span><span style="font-family:'Arial', sans-serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:normal;left:612.97pt;position:var(--position);text-decoration:none;top:-2.674pt;vertical-align:super;white-space:pre">1</span></div><div style="position:var(--position);top:236.17pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:126.75pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.31pt;position:var(--position);text-decoration:none;white-space:pre">Term Loan </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.57pt;position:var(--position);text-decoration:none;white-space:pre">A (Secured)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.31pt;position:var(--position);text-decoration:none;white-space:pre">Term Loan </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.57pt;position:var(--position);text-decoration:none;white-space:pre">B (Secured)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.04pt;position:var(--position);text-decoration:none;white-space:pre">Secured </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.8pt;position:var(--position);text-decoration:none;white-space:pre">Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.88pt;position:var(--position);text-decoration:none;white-space:pre">Unsecured </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.8pt;position:var(--position);text-decoration:none;white-space:pre">Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.72pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Payments due</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Within 1 year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">105<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">331<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">90<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">69<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">595<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1 – 3 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">201<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">810<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">188<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">145<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,344<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3 – 5 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">937<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">442<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">188<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">145<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,712<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">More than 5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,008<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,688<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,218<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,914<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:80.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,243<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,591<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,154<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,577<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">7,565<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:341.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">With respect to debt, the amounts below combine interest and scheduled amortization payments. Interest on floating </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:350.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">rate debt was calculated based on the interest rate in effect on December 31, 2025.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:369.42pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Te</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:438.75pt;position:var(--position);text-decoration:none;white-space:pre">rm</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:452.15999999999997pt;position:var(--position);text-decoration:none;white-space:pre"> Loans</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:382.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In December 2025, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.65999999999997pt;position:var(--position);text-decoration:none;white-space:pre">Genmab</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:527.3pt;position:var(--position);text-decoration:none;white-space:pre"> entered into a credit agreement (the “Credit Agreement”) consisting of a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:393.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">$1 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:458.01pt;position:var(--position);text-decoration:none;white-space:pre"> senior secured term A loan facility (the loans thereunder, the “Term A Loans”) and a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:755.47pt;position:var(--position);text-decoration:none;white-space:pre">$2 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:786.97pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">senior secured term loan B facility (the loans thereunder, the “Term B Loans”, together with the Term A </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:415.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Loans, the “Loans”), and the 2025 Revolving Credit Facility described in the Revolving Credit Facilities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">section. The Loans were obtained to contribute to the financing of the acquisition of Merus. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The Term A Loans are subject to financial covenants, with the financial covenant tests on a quarter-end </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">basis beginning March 31, 2026. The first financial covenant requires that Genmab’s first lien secured </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:439.83pt;position:var(--position);text-decoration:none;white-space:pre">leverage</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:470.46pt;position:var(--position);text-decoration:none;white-space:pre"> ratio (defined as consolidated first lien debt less unrestricted </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:687.0899999999999pt;position:var(--position);text-decoration:none;white-space:pre">cash</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:703.97pt;position:var(--position);text-decoration:none;white-space:pre">, divided by adjusted </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">consolidated EBITDA) does not exceed </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:568.15pt;position:var(--position);text-decoration:none;white-space:pre">4.5</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:579.25pt;position:var(--position);text-decoration:none;white-space:pre">:1.00 from March 31, 2026 through March 31, 2027, and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:489.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">3.75</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:442.05pt;position:var(--position);text-decoration:none;white-space:pre">:1.00 from the quarter ending June 30, 2027, and thereafter. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:508.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The second financial covenant is also tested quarterly beginning on March 31, 2026, and requires that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:519.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s interest coverage ratio (defined as adjusted consolidated EBITDA, divided by consolidated cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:530.02pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">interest expense) does not fall below </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:558.36pt;position:var(--position);text-decoration:none;white-space:pre">2.00</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:573.9pt;position:var(--position);text-decoration:none;white-space:pre">:1.00 from March 31, 2026 through March 31, 2027, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:759.04pt;position:var(--position);text-decoration:none;white-space:pre">2.50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:774.5799999999999pt;position:var(--position);text-decoration:none;white-space:pre">:1.00 </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">from the quarter ending June 30, 2027 through September 30, 2027, and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.57000000000005pt;position:var(--position);text-decoration:none;white-space:pre">3.00</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:312.11pt;position:var(--position);text-decoration:none;white-space:pre">:1.00 from the quarter ending </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2027, and thereafter. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Loans are subject to principal amortization which is reflected in the table above and to mandatory </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">prepayment in certain circumstances including for asset sales and excess cash flow (as defined in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Credit Agreement).The Loans are also subject to a mandatory prepayment provision beginning in fiscal </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">year 2026. After each fiscal year end, if Genmab’s excess cash flow (as defined in the Credit Agreement) </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">exceeds </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:68.83pt;position:var(--position);text-decoration:none;white-space:pre">$150 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.43pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:115.87pt;position:var(--position);text-decoration:none;white-space:pre">50%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:131.86pt;position:var(--position);text-decoration:none;white-space:pre"> of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:142.96pt;position:var(--position);text-decoration:none;white-space:pre">the</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:154.06pt;position:var(--position);text-decoration:none;white-space:pre"> excess amount is required to be applied to prepay the Loans. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">required prepayment percentage is reduced to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:202.89pt;position:var(--position);text-decoration:none;white-space:pre">25%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:218.88pt;position:var(--position);text-decoration:none;white-space:pre"> if the net leverage ratio is at or below </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:353.82000000000005pt;position:var(--position);text-decoration:none;white-space:pre">2.15</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:369.36pt;position:var(--position);text-decoration:none;white-space:pre"> :1.00 </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">but above </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:74.15pt;position:var(--position);text-decoration:none;white-space:pre">1.65</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:89.69pt;position:var(--position);text-decoration:none;white-space:pre">:1.00, and no excess cash flow prepayment is required if the ratio is at or below </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:371.6pt;position:var(--position);text-decoration:none;white-space:pre">1.65</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:387.14000000000004pt;position:var(--position);text-decoration:none;white-space:pre">:1.00.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In additional to financial covenants, the Loans contain customary covenants that, among other things, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">restrict, with certain exceptions, the ability of each of Genmab and its subsidiaries to incur additional debt, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:244.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">pay dividends, make certain other restricted payments, incur debt secured by liens, dispose of assets, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:255.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">engage in consolidations and mergers or sell or transfer all or substantially all of its assets. The Loans also </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:266.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">contain customary events of default, including cross-default provisions relating to other material </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:277.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">indebtedness.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The Loans are secured by a first-priority lien on substantially all assets of Genmab. As of December 31, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2025, Genmab retains ownership and control of the pledged assets, which continue to be recognized in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">C</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:42.620000000000005pt;position:var(--position);text-decoration:none;white-space:pre">onsolidated Balance Sheets</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:141.63pt;position:var(--position);text-decoration:none;white-space:pre">. The carrying amount of assets, including goodwill and other intangible </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:329.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">assets, corporate tax receivable, inve</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:168.72pt;position:var(--position);text-decoration:none;white-space:pre">ntory, financial assets, and property and equipment pledged as </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:340.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">collateral for the Loans is </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:127.85pt;position:var(--position);text-decoration:none;white-space:pre">$11.1 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:169.85999999999999pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:359.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">5.5</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1852" style="color:inherit;text-decoration:inherit;z-index:1"> for detailed information regarding Genmab’s acquisition of Merus. </a></span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:377.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Notes</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:388.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In December 2025, Genmab entered into Senior Secured Notes of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:273.49pt;position:var(--position);text-decoration:none;white-space:pre">$1.5 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:311.65000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> and Senior Unsecured </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:399.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Notes of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:68.82pt;position:var(--position);text-decoration:none;white-space:pre">$1.0 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:106.97999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> (together, the “Notes”). </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:191.63pt;position:var(--position);text-decoration:none;white-space:pre">The proceeds were also used to finance the Merus acquisition. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The Senior S</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:83.46000000000001pt;position:var(--position);text-decoration:none;white-space:pre">ecured Notes</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:130.97pt;position:var(--position);text-decoration:none;white-space:pre"> are backed by the same collateral package as the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:311.24pt;position:var(--position);text-decoration:none;white-space:pre">Loan</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:329pt;position:var(--position);text-decoration:none;white-space:pre">s</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:333pt;position:var(--position);text-decoration:none;white-space:pre">, while the Senior </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Unsecured Notes are not collateralized. The Notes contain customary events of default, including cross-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">default provisions relating to other material indebtedness.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:451.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Revolving Credit Facilities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:464.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">During the fourth quarter of 2024, Genmab entered into an unsecured </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:285.02pt;position:var(--position);text-decoration:none;white-space:pre">three</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:303.22pt;position:var(--position);text-decoration:none;white-space:pre">-year</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:321.42pt;position:var(--position);text-decoration:none;white-space:pre"> revolving credit facility </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:475.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">(“2024 Revolving Credit Facility”) of up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:184.21pt;position:var(--position);text-decoration:none;white-space:pre">$300 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:226.81pt;position:var(--position);text-decoration:none;white-space:pre"> with a syndicate of lenders. During the fourth quarter </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:486.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of 2025, Genmab terminated the 2024 Revolving Credit Facility. The 2024 Revolving Credit Facility was </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:497.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">undrawn at the date of termination, and no penalties or additional costs were incurred. The termination </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:508.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">reflects Genmab’s updated financing strategy and does not impact its liquidity position, as alternative </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:519.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">sources of funding remain available.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">During the fourth quarter of 2025, Genmab entered into the Credit Agreement described in the Term Loan </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">section, which includes a senior secured </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:571.69pt;position:var(--position);text-decoration:none;white-space:pre">five</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:584.12pt;position:var(--position);text-decoration:none;white-space:pre">-year</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:602.3199999999999pt;position:var(--position);text-decoration:none;white-space:pre"> revolving credit facility (“2025 Revolving Credit Facility”) </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:455.37pt;position:var(--position);text-decoration:none;white-space:pre">$500 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:497.96999999999997pt;position:var(--position);text-decoration:none;white-space:pre"> with a syndicate of lenders. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The 2025 Revolving Credit Facility is subject to the same financial covenants and collateral described in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the Term Loans section.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:178.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, 2025, there were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:561.48pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:570.36pt;position:var(--position);text-decoration:none;white-space:pre"> outstanding amounts due on, nor any usage of, the 2025 </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:189.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Revolving Credit Facility.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:208.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab intends to use the 2025 Revolving Credit Facility to finance working capital needs, and for general </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:219.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">corporate purposes, of Genmab A/S and its subsidiaries.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:238.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Reconciliation of borrowings arising from financing activities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:251.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">There were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:469.12pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:478pt;position:var(--position);text-decoration:none;white-space:pre"> borrowings as of December 31, 2024. Borrowings, net of transaction costs, of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:755.49pt;position:var(--position);text-decoration:none;white-space:pre">$5,247 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:804.75pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:262.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">were issued in December 2025 in connection with financing the Merus acquisition. Other than </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:273.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the recognition of accrued interest expense of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:590.34pt;position:var(--position);text-decoration:none;white-space:pre">$27 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:628.5pt;position:var(--position);text-decoration:none;white-space:pre">, which represents a non-cash movement, there </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">were no cash or non-cash movements of borrowings for the year ended </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:681.36pt;position:var(--position);text-decoration:none;white-space:pre">December</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:718.21pt;position:var(--position);text-decoration:none;white-space:pre"> 31, 2025. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, 2025, borrowings were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:582.34pt;position:var(--position);text-decoration:none;white-space:pre">$5,274 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:631.6pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="position:var(--position);top:314.32pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-282" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:336.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Borrowings are financial liabilities that are initially recognized at the fair value of the proceeds received less </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">transaction costs in the Consolidated Balance Sheets. In subsequent periods these are measured </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">at amortized cost using the effective interest method. Interest expense, including the amortization of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">transaction costs and any difference between the initial carrying amount and the redemption amount, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:380.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is recognized in financial expenses in the Consolidated Statements of Comprehensive Income over the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">term of the borrowings.</span></div> 1715000000 1380000000 0 1574000000 5500000000 5500000000 500000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">I</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:428.73pt;position:var(--position);text-decoration:none;white-space:pre">n addition to the capital management and financing risk mentioned in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:674.22pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1560" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:691.97pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:694.19pt;position:var(--position);text-decoration:none;white-space:pre">4.1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:705.29pt;position:var(--position);text-decoration:none;white-space:pre">, Genmab has identified the </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">following key financial risk areas, which are mainly related to our marketable securities portfolio and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">borrowings:</span></div><div style="position:var(--position);top:482.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:369.75pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:12pt"></td><td style="padding:0;width:357.75pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:12pt"><div><div style="line-height:3pt;position:var(--position);top:5.16pt;width:12pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:3pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">⬤</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:12pt;position:var(--position);width:357.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:357.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">credit risk;</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:12pt"><div><div style="line-height:3pt;position:var(--position);top:5.16pt;width:12pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:3pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">⬤</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:12pt;position:var(--position);top:12pt;width:357.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:357.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">foreign currency risk; and</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:24pt;width:12pt"><div><div style="line-height:3pt;position:var(--position);top:5.16pt;width:12pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:3pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">⬤</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:12pt;position:var(--position);top:24pt;width:357.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:357.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">interest rate risk</span></div></div></div></td></tr></tbody></table></div></div></div> 1715000000 2954000000 1134000000 930000000 <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:94.5pt"></td><td style="padding:0;width:94.5pt"></td><td style="padding:0;width:94.5pt"></td><td style="padding:0;width:94.5pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Category</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:94.5pt;position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">S&amp;P</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:189pt;position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Moody’s</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);width:94.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Fitch</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Short-term</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:94.5pt;position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">A-2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:189pt;position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">P-2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:11.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">F-2</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Long-term</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:94.5pt;position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">BBB-</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:189pt;position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Baa3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:23.25pt;width:94.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:94.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">BBB-</span></div></div></div></td></tr></tbody></table></div></div> 0.71 1574000000 1380000000 0 0.81 0.79 0.86 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s marketable securities denominated in USD, DKK, EUR and GBP as a percentage of total </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">marketable securities were as follows: </span></div><div style="position:var(--position);top:149.12pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:238.5pt"></td><td style="padding:0;width:60pt"></td><td style="padding:0;width:9.75pt"></td><td style="padding:0;width:60pt"></td><td style="padding:0;width:9.75pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);width:69.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:69.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);width:69.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:69.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Percent</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">USD</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:23.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.71pt;position:var(--position)"></span><span style="left:47.71pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:23.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:35.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.71pt;position:var(--position)"></span><span style="left:47.71pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:35.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">EUR</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:47.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:52.15pt;position:var(--position)"></span><span style="left:52.15pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:47.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">GBP</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:59.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:52.15pt;position:var(--position)"></span><span style="left:52.15pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:59.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:238.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:238.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:238.5pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:48.59pt;position:var(--position)"></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:298.5pt;position:var(--position);top:71.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:43.27pt;position:var(--position)"></span><span style="left:43.27pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:368.25pt;position:var(--position);top:71.25pt;width:9.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:9.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:0.01pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr></tbody></table></div></div></div> 0 0.76 0 0.15 0 0.08 0 0.01 0 1 0.10 266000000 1000000000 1500000000 1000000000 2000000000 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:258pt"></td><td style="padding:0;width:60pt"></td><td style="padding:0;width:60pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);width:60pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);width:60pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Year of Maturity</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:23.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:40.64pt"></span></span><span style="left:43.27pt;position:var(--position)">700<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:35.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:40.64pt"></span></span><span style="left:43.27pt;position:var(--position)">449<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2027</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:47.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:40.64pt"></span></span><span style="left:43.27pt;position:var(--position)">324<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2028</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:59.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.08pt"></span></span><span style="left:47.71pt;position:var(--position)">46<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2029</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:71.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.08pt"></span></span><span style="left:47.71pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">2030+</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:83.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:83.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.08pt"></span></span><span style="left:47.71pt;position:var(--position)">33<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:95.25pt;width:258pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:258pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total at December 31</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:95.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.96pt"></span></span><span style="left:48.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:318pt;position:var(--position);top:95.25pt;width:60pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:60pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.98pt"></span></span><span style="left:36.61pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 0 700000000 0 449000000 0 324000000 0 46000000 0 22000000 0 33000000 0 1574000000 <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:198pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:144pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:144pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:47.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:11.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.72pt;position:var(--position);text-decoration:none;white-space:pre">Note</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.69pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial assets measured at fair value through </span></div><div style="line-height:8pt;position:var(--position);top:11.94pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">profit or loss</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Marketable securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:43.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:43.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other investments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:55.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:55.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial assets measured at amortized cost</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Receivables excluding prepayments</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:79.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,069<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:79.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">894<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:91.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,715<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:91.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,380<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial liabilities measured at amortized cost</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Borrowings</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:115.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(5,274)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:115.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:127.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Lease liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:127.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(152)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:127.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(144)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:198pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:198pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other payables excluding provisions</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:198pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:139.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,069)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:139.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(489)</span></span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:74.25pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td><td style="padding:0;width:33.75pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="8" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);width:270pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:270pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:110.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td colspan="4" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:11.25pt;width:135pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:135pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:115.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td colspan="4" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:11.25pt;width:135pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:135pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:115.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:74.25pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.47pt;position:var(--position);text-decoration:none;white-space:pre">Note</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141.75pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:175.5pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:209.25pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.22pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:310.5pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.7pt;position:var(--position);text-decoration:none;white-space:pre">Level 3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:344.25pt;position:var(--position);top:22.5pt;width:33.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.22pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:33.75pt;width:74.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Assets Measured at </span></div><div style="line-height:8pt;position:var(--position);top:11.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair Value</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:54.75pt;width:74.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Marketable </span></div><div style="line-height:8pt;position:var(--position);top:11.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:74.25pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.02pt;position:var(--position);text-decoration:none;white-space:pre">4.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141.75pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:175.5pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:209.25pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:7.73pt"></span></span><span style="left:10.36pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:310.5pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.71pt"></span></span><span style="left:22.34pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:344.25pt;position:var(--position);top:54.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:7.31pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:7.73pt"></span></span><span style="left:10.36pt;position:var(--position)">1,574<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:75.75pt;width:74.25pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:74.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other investments</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:74.25pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.02pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:108pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141.75pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:175.5pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:209.25pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:243pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">5<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:276.75pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:23.27pt"></span></span><span style="left:25.9pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:310.5pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:344.25pt;position:var(--position);top:75.75pt;width:33.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:33.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:18.83pt"></span></span><span style="left:21.459999999999997pt;position:var(--position)">32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div> 0 1574000000 37000000 32000000 1069000000 894000000 1715000000 1380000000 5274000000 0 152000000 144000000 1069000000 489000000 0 1574000000 1574000000 9000000 2000000 26000000 37000000 5000000 2000000 25000000 32000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">There were </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:469.12pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:478pt;position:var(--position);text-decoration:none;white-space:pre"> transfers into or out of Level 3 during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:612.51pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:630.27pt;position:var(--position);text-decoration:none;white-space:pre"> or </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:641.81pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:659.5699999999999pt;position:var(--position);text-decoration:none;white-space:pre">. Acquisitions (capital calls), fair value </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">changes and foreign currency changes on Level 3 investments in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:658.73pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:676.49pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:694.25pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:712.01pt;position:var(--position);text-decoration:none;white-space:pre"> were as follows:</span></div><div style="position:var(--position);top:167.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:366.75pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:294.75pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.58pt;position:var(--position);text-decoration:none;white-space:pre">Other Investments</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value at December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">13</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisitions</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">6</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value changes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">6</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value at December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">25</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisitions</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">4</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value changes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(3)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:294.75pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:294.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value at December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:294.75pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div> 0 0 0 0 13000000 6000000 6000000 25000000 4000000 -3000000 26000000 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair value measurement</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab measures financial instruments, such as marketable securities, at fair value at each balance </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">sheet date. Management assessed that the fair value of financial assets and liabilities measured at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">amortized cost such as bank deposits, receivables and other payables approximate their carrying amounts </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">largely due to the short-term maturities of these instruments. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:172.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:183.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">transaction between market participants at the measurement date. The fair value measurement is based </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">on the presumption that the transaction to sell the asset or transfer the liability takes place either:</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:213.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">In the principal market for the asset or liability, or</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:228.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">In the absence of a principal market, in the most advantageous market for the asset or liability.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The principal or the most advantageous market must be accessible by Genmab.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:266.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of an asset or a liability is measured using the assumptions that market participants would </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:277.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">use when pricing the asset or liability, assuming that market participants act in their economic best interest.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab uses valuation techniques that are appropriate in the circumstances and for which sufficient data </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">use of unobservable inputs.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:337.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">For financial instruments that are measured in the balance sheet at fair value, IFRS 13 requires disclosure </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:348.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of fair value measurements by level of the following fair value measurement hierarchy:</span></div><div style="position:var(--position);top:367.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:378pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">liability, either directly (that is, as prices) or indirectly (that is, derived from prices)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:33pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 3 - Inputs for the asset or liability that are not based on observable market data (that is, </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">unobservable inputs).</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:434.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:445.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab determines whether transfers have occurred between levels in the hierarchy by reassessing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">categorization (based on the lowest level input that is significant to the fair value measurement as a whole) </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">at the end of each reporting period. Any transfers between the different levels are carried out at the end of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the reporting period.</span></div> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">For financial instruments that are measured in the balance sheet at fair value, IFRS 13 requires disclosure </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:348.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of fair value measurements by level of the following fair value measurement hierarchy:</span></div><div style="position:var(--position);top:367.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:378pt"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">liability, either directly (that is, as prices) or indirectly (that is, derived from prices)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:33pt;width:378pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.630000000000001pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Level 3 - Inputs for the asset or liability that are not based on observable market data (that is, </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:378pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.55pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">unobservable inputs).</span></div></div></div></td></tr></tbody></table></div></div></div> <div style="font-size:0pt;left:426.51pt;position:var(--position);width:375.75pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:51pt"></td><td style="padding:0;width:44.25pt"></td><td style="padding:0;width:51pt"></td><td style="padding:0;width:44.25pt"></td><td style="padding:0;width:51pt"></td><td style="padding:0;width:44.25pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.97pt;position:var(--position);text-decoration:none;white-space:pre">Market value</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:44.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.79pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.97pt;position:var(--position);text-decoration:none;white-space:pre">Market value</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.79pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.97pt;position:var(--position);text-decoration:none;white-space:pre">Market value</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.79pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:11.25pt;width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.13pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:19.19pt;position:var(--position);text-decoration:none;white-space:pre">31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:11.25pt;width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:44.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.96pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:11.25pt;width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:12.13pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:19.19pt;position:var(--position);text-decoration:none;white-space:pre">31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:11.25pt;width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.96pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:11.25pt;width:51pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.29pt;position:var(--position);text-decoration:none;white-space:pre">January 1, </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:11.25pt;width:44.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.96pt;position:var(--position);text-decoration:none;white-space:pre">%</span></div></div></div></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">USD portfolio</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:59.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:59.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:59.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.64pt;position:var(--position);text-decoration:none;white-space:pre">711</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:59.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">45<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:59.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">895</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:59.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">46<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">US government bonds </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">and treasury bills</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:71.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:71.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:71.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">355</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:71.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">22<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:71.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">481</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:71.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">24<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:92.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Commercial paper</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:92.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:92.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:92.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">27</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:92.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:92.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">67</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:92.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:104.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:104.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:104.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:104.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.64pt;position:var(--position);text-decoration:none;white-space:pre">114</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:104.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:104.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">149</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:104.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:116.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total USD portfolio</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:116.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:116.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:116.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,207</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:116.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:116.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,592</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:116.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">81<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:128.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK portfolio</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:140.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Kingdom of Denmark </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">bonds and treasury bills</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:140.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:140.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:140.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">60</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:140.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:140.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">62</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:140.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:161.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Danish mortgage-</span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">backed securities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:161.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:161.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:161.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">170</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:161.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">11<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:161.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">174</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:161.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:182.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total DKK portfolio</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:182.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:182.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:182.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">230</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:182.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:182.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">236</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:182.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:24.85pt;position:var(--position)"></span><span style="left:24.85pt;position:var(--position)">12<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:194.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">EUR portfolio</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:206.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">European government </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">bonds and treasury bills</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:206.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:206.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:206.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">124</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:206.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">8<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:206.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.05pt;position:var(--position);text-decoration:none;white-space:pre">127</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:206.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:227.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">GBP portfolio</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:239.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">UK government bonds </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">and treasury bills</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:239.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:239.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:239.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">13</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:239.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:239.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.49pt;position:var(--position);text-decoration:none;white-space:pre">12</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:239.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:29.29pt;position:var(--position)"></span><span style="left:29.29pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:260.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total portfolio</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:260.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:141pt;position:var(--position);top:260.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:25.73pt;position:var(--position)"></span><span style="left:25.73pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:260.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,574</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:260.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:20.41pt;position:var(--position)"></span><span style="left:20.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:260.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,967</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:331.5pt;position:var(--position);top:260.25pt;width:44.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:44.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:20.41pt;position:var(--position)"></span><span style="left:20.41pt;position:var(--position)">100<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:36.39pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:272.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Marketable securities</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:272.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:185.25pt;position:var(--position);top:272.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,574</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:280.5pt;position:var(--position);top:272.25pt;width:51pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:28.39pt;position:var(--position);text-decoration:none;white-space:pre">1,967</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div> 0 0 711000000 0.45 895000000 0.46 0 0 355000000 0.22 481000000 0.24 0 0 27000000 0.02 67000000 0.03 0 0 114000000 0.07 149000000 0.08 0 0 1207000000 0.76 1592000000 0.81 0 0 60000000 0.04 62000000 0.03 0 0 170000000 0.11 174000000 0.09 0 0 230000000 0.15 236000000 0.12 0 0 124000000 0.08 127000000 0.06 0 0 13000000 0.01 12000000 0.01 0 0 1574000000 1 1967000000 1 0 1574000000 1967000000 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.2pt;position:var(--position);text-decoration:none;white-space:pre">2024¹</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:50.2pt;position:var(--position);text-decoration:none;white-space:pre">2023¹</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial income:</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Interest and other financial income</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">138<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">144<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">142<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on marketable securities</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">112<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">237<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">157<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Gain on other investments, net</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate gain</span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">158<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">258<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial income</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">408<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">645<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">299<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Financial expenses:</span></div></div></div></td><td style="background-color:#FFFFFF;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#FFFFFF;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#FFFFFF;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:95.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other interest expense</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:95.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(34)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:95.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(18)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:95.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(10)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:107.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Interest expense on borrowings</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(27)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:107.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:119.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on marketable securities</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(46)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(107)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:119.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(174)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:131.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Loss on other investments, net</span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(1)</span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="background-color:#FFFFFF;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:131.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:58.86pt"></span></span><span style="left:61.49pt;position:var(--position)">(4)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:143.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate loss</span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(161)</span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(166)</span></span></div></div></div></td><td style="background-color:#FFFFFF;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:143.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(66)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:155.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total financial expenses</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(269)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(291)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:155.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(254)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:167.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net financial items</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">139<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">354<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">45<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:318.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">Certain </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:459.49pt;position:var(--position);text-decoration:none;white-space:pre">reclassifications</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:508.85pt;position:var(--position);text-decoration:none;white-space:pre"> have been made between financial income and expenses for all periods </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:734.71pt;position:var(--position);text-decoration:none;white-space:pre">presented. </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:769.7pt;position:var(--position);text-decoration:none;white-space:pre">Refer to </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:327.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:bold;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_747" style="color:inherit;text-decoration:inherit;z-index:1">Note 1.4</a></span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:bold;left:462.21pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:464.15pt;position:var(--position);text-decoration:none;white-space:pre">for more information.</span></div> 138000000 144000000 142000000 112000000 237000000 157000000 0 6000000 0 158000000 258000000 0 408000000 645000000 299000000 34000000 18000000 10000000 27000000 0 0 46000000 107000000 174000000 1000000 0 4000000 161000000 166000000 66000000 269000000 291000000 254000000 139000000 354000000 45000000 138000000 144000000 142000000 -6000000 -0.04 2000000 0.01 27000000 -3000000 92000000 -66000000 66000000 130000000 -17000000 -64000000 -0.49 147000000 8.65 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Financial income and expenses include interest as well as foreign exchange rate adjustments and gains </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:419.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and losses on marketable securities (designated as FVPL) and realized gains and losses and write-downs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of other securities and equity interests.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:449.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Interest income is shown separately from gains and losses on marketable securities and other securities </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:460.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and equity interests.</span></div> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">See the table below for a summary of key terms of Genmab’s RSU programs:</span><div style="position:var(--position);top:218.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:766.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:142.5pt"></td><td style="padding:0;width:312pt"></td><td style="padding:0;width:312pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt dotted #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);width:624pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:267.44pt;position:var(--position);text-decoration:none;white-space:pre">RSUs Granted in Periods</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:142.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.09pt;position:var(--position);text-decoration:none;white-space:pre">Key Terms</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:11.25pt;width:312pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:99.76pt;position:var(--position);text-decoration:none;white-space:pre">December 2019 - February 2021</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:454.5pt;position:var(--position);top:11.25pt;width:312pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:120.18pt;position:var(--position);text-decoration:none;white-space:pre">From February 2021</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:142.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Grants</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt dotted #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:22.5pt;width:624pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSUs are granted at no cost to employees. Number of shares granted is determined based on closing share price on the grant date.</span></div></div></div></td></tr><tr style="height:60.75pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:142.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Vesting (Settlement)</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt dotted #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:34.5pt;width:624pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cliff vesting – RSUs become fully vested on the first banking day of the month following a period of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:341.09pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">three years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:379.73pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> from the grant date. The </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:466.59pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">three years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:505.23pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> cliff vesting also applies to PSUs, </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">while also subject to the degree of fulfilment of the applicable performance criteria. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:24.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">After RSUs vest, the holder receives </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:129.17000000000002pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:142.13pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> share in Genmab A/S for each RSU granted. In jurisdictions in which Genmab as an employer is required to withhold tax and settle with the </span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">tax authority on behalf of the employee, Genmab withholds the number of RSUs that are equal to the monetary value of the employee’s tax obligation from the total number of RSUs </span></div><div style="line-height:8pt;position:var(--position);top:42.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">that otherwise would have been issued to the employee upon vesting (“net settlement”). Genmab A/S may at its sole discretion in extraordinary circumstances choose to make a </span></div><div style="line-height:8pt;position:var(--position);top:51.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">cash settlement instead of delivering shares.</span></div></div></div></td></tr><tr style="height:74.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:95.25pt;width:142.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:142.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leaver </span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:142.5pt;position:var(--position);top:95.25pt;width:312pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leavers – Forfeit all unvested RSUs except when due to retirement, death, serious </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">sickness, or serious injury, in which case granted but not yet vested RSUs shall remain </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">outstanding and will be settled in accordance with their terms.</span></div><div style="line-height:8pt;position:var(--position);top:33.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Notwithstanding the above, the December 2020 RSU grant to members of the Board was </span></div><div style="line-height:8pt;position:var(--position);top:42.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">made subject to pro-rata vesting upon termination of board services.</span></div><div style="line-height:8pt;position:var(--position);top:55.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Employees and Executive Management – RSUs remain outstanding and vest accordingly </span></div><div style="line-height:8pt;position:var(--position);top:64.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">when the employment relationship is terminated by Genmab without cause.</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:454.5pt;position:var(--position);top:95.25pt;width:312pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Good-Leavers</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:51.81pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2 </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">– May maintain a pro-rata portion of unvested RSUs.</span></div><div style="line-height:8pt;position:var(--position);top:15.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Bad-Leavers</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:46.6pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.42pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> – Forfeit all unvested RSUs.</span></div><div style="line-height:8pt;position:var(--position);top:28.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Death – Forfeit all unvested RSUs.</span></div><div style="line-height:8pt;position:var(--position);top:41.63pt;width:312pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Voluntary leavers forfeit unvested RSUs.</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:400.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Annual bonuses are paid in cash, with a portion convertible into deferred RSUs, following the determination of achievement against performance goals and KPIs. The vesting of deferred RSUs is not contingent upon continued service and is not </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:409.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">subject to any forward-looking performance criteria.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:418.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">“Good-Leaver” - Dismissal without cause or termination of employment due to Genmab’s material breach of the RSU or Warrant holder’s employment terms, or if the participant is a member of the Board, if the membership of the Board ceases for </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:427.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">any other reason than as a result of the participant’s death.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:435.62pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">“Bad-leaver” - Dismissed for cause or during the employment probationary period.</span></div> P3Y P3Y 1 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">RSU Activity in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:114.93pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:138.25pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:144.07pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:167.39pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:191.85999999999999pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:263.25pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:65.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.08pt;position:var(--position);text-decoration:none;white-space:pre">held by the Board </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.33pt;position:var(--position);text-decoration:none;white-space:pre">of Directors</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.81pt;position:var(--position);text-decoration:none;white-space:pre">held by the </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.37pt;position:var(--position);text-decoration:none;white-space:pre">Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.56pt;position:var(--position);text-decoration:none;white-space:pre">Management</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:43.13pt;position:var(--position);text-decoration:none;white-space:pre">held by </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.62pt;position:var(--position);text-decoration:none;white-space:pre">employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.84pt;position:var(--position);text-decoration:none;white-space:pre">Number of RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.33pt;position:var(--position);text-decoration:none;white-space:pre">held by former </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:13.58pt;position:var(--position);text-decoration:none;white-space:pre">members of the </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.37pt;position:var(--position);text-decoration:none;white-space:pre">Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.48pt;position:var(--position);text-decoration:none;white-space:pre">Management, </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.6pt;position:var(--position);text-decoration:none;white-space:pre">Board of Directors </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.21pt;position:var(--position);text-decoration:none;white-space:pre">and employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.4pt;position:var(--position);text-decoration:none;white-space:pre">Total RSUs</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.99pt;position:var(--position);text-decoration:none;white-space:pre">Weighted Average </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.91pt;position:var(--position);text-decoration:none;white-space:pre">Fair Value - RSUs </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.76pt;position:var(--position);text-decoration:none;white-space:pre">Granted - DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.42pt;position:var(--position);text-decoration:none;white-space:pre">Total Fair Value of </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14pt;position:var(--position);text-decoration:none;white-space:pre">RSUs Granted - </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.92pt;position:var(--position);text-decoration:none;white-space:pre">DKK million</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2023</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,819<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">112,331<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">423,142<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,846<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">548,138<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,361<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">75,854<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">208,353<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">11,643<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">299,211<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,619.35<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">784<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Settled</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,880)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(35,773)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(54,871)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(9,805)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(102,329)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:101.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transferred</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">12,918<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(55,103)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">42,185<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:113.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(4,357)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(35)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(37,984)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(42,376)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,300<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">160,973<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">521,486<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">9,885<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">702,644<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:153pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,300<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">160,973<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">521,486<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">9,885<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:153pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">702,644<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:165pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,097<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">121,063<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">344,068<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,484<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">486,712<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,977.87<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:165pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">963<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:177pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Settled</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,367)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(35,320)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(112,663)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(12,465)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:177pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(163,815)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:189pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transferred</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(19,924)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(37,348)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">57,272<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:189pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:201pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(11,667)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(71)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(38,178)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:201pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(49,916)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:213pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,030<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">215,125<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">715,472<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">30,998<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:213pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">975,625<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:15.75pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,030<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">215,125<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">715,472<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">30,998<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:240.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">975,625<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:252.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,828<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">136,205<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">471,443<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">39,635<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">658,111<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,611.15<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:252.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,060<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:264.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Settled</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,383)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(33,690)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(157,268)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(31,781)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:264.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(226,122)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:276.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transferred</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">997<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(12,482)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(89,642)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">101,127<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:276.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:288.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(672)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(6,449)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(91,693)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:288.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(98,828)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:300.75pt;width:263.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:263.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">21,800<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">298,709<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">939,991<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">48,286<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:300.75pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,308,786<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:446.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">RSUs held by the Board of Directors include RSUs granted to employee-elected Board Members as employees of Genmab A/S or its subsidiaries.</span></div> 8819 112331 423142 3846 548138 3361 75854 208353 11643 299211 2619.35 784000000 1880 35773 54871 9805 102329 -12918 55103 -42185 4357 35 37984 42376 10300 160973 521486 9885 702644 10300 160973 521486 9885 702644 7097 121063 344068 14484 486712 1977.87 963000000 3367 35320 112663 12465 163815 19924 37348 -57272 11667 71 38178 49916 14030 215125 715472 30998 975625 14030 215125 715472 30998 975625 10828 136205 471443 39635 658111 1611.15 1060000000 3383 33690 157268 31781 226122 -997 12482 89642 -101127 672 6449 14 91693 98828 21800 298709 939991 48286 1308786 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">See the table below for a summary of key terms of Genmab’s warrant programs:</span><div style="position:var(--position);top:196.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:143.25pt"></td><td style="padding:0;width:156.75pt"></td><td style="padding:0;width:156.75pt"></td><td style="padding:0;width:310.5pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);width:624pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:261.2pt;position:var(--position);text-decoration:none;white-space:pre">Warrants Granted in Periods</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Key Terms</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:11.25pt;width:313.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:107.59pt;position:var(--position);text-decoration:none;white-space:pre">March 2017 - February 2021</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:456.75pt;position:var(--position);top:11.25pt;width:310.5pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:119.43pt;position:var(--position);text-decoration:none;white-space:pre">From February 2021</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Grants</span></div></div></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:22.5pt;width:624pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants are granted at no cost to employees. Granted at an exercise price equal to the closing share price on the grant date.</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Vesting (Exercisable)</span></div></div></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:34.5pt;width:624pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cliff vesting over </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.470000000000006pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:65.78999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">-year period (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.6pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">100%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:131.54999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> after </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:151.13pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">three years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:189.76999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">)</span></div></div></div></td></tr><tr style="height:51pt"><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Leaver</span></div></div></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:46.5pt;width:313.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Leavers - Forfeit all unvested warrants; however, will be able to exercise pro-rata portion </span></div><div style="line-height:8pt;position:var(--position);top:11.63pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">of warrants on a regular schedule in instances where the employment relationship is </span></div><div style="line-height:8pt;position:var(--position);top:20.63pt;width:313.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">terminated by Genmab without cause.</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:456.75pt;position:var(--position);top:46.5pt;width:310.5pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Good-Leavers - May maintain a pro-rata portion of unvested warrants.</span></div><div style="line-height:8pt;position:var(--position);top:15.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Bad-Leavers - Forfeit all unvested warrants.</span></div><div style="line-height:8pt;position:var(--position);top:28.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Death - Forfeit all unvested warrants.</span></div><div style="line-height:8pt;position:var(--position);top:41.63pt;width:310.5pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Voluntary leavers forfeit all unvested warrants.</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:97.5pt;width:143.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:143.25pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Lapse</span></div></div></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:143.25pt;position:var(--position);top:97.5pt;width:624pt"><div><div style="line-height:8pt;position:var(--position);top:2.63pt;width:624pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:262.9pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">7th anniversary of grant date</span></div></div></div></td></tr></tbody></table></div></div></div> P3Y 1 P3Y <div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:191.25pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:65.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.25pt;position:var(--position);text-decoration:none;white-space:pre">the Board of </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.48pt;position:var(--position);text-decoration:none;white-space:pre">Directors</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.05pt;position:var(--position);text-decoration:none;white-space:pre">the Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:23.56pt;position:var(--position);text-decoration:none;white-space:pre">Management</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.62pt;position:var(--position);text-decoration:none;white-space:pre">employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:31.91pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.82pt;position:var(--position);text-decoration:none;white-space:pre">warrants held by </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:10.25pt;position:var(--position);text-decoration:none;white-space:pre">former members </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:11.9pt;position:var(--position);text-decoration:none;white-space:pre">of the Executive </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.48pt;position:var(--position);text-decoration:none;white-space:pre">Management, </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:3.6pt;position:var(--position);text-decoration:none;white-space:pre">Board of Directors </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.21pt;position:var(--position);text-decoration:none;white-space:pre">and employees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.16pt;position:var(--position);text-decoration:none;white-space:pre">Total warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.23pt;position:var(--position);text-decoration:none;white-space:pre">Weighted average </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.8pt;position:var(--position);text-decoration:none;white-space:pre">exercise price - </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.14pt;position:var(--position);text-decoration:none;white-space:pre">DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.23pt;position:var(--position);text-decoration:none;white-space:pre">Weighted average </span></div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.64pt;position:var(--position);text-decoration:none;white-space:pre">share price at </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.3pt;position:var(--position);text-decoration:none;white-space:pre">exercise date - </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.14pt;position:var(--position);text-decoration:none;white-space:pre">DKK</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:38.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:25.24pt;position:var(--position);text-decoration:none;white-space:pre">Outstanding </span></div><div style="line-height:7.5pt;position:var(--position);top:47.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.44pt;position:var(--position);text-decoration:none;white-space:pre">Warrants - % of </span></div><div style="line-height:7.5pt;position:var(--position);top:56.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.48pt;position:var(--position);text-decoration:none;white-space:pre">Share Capital</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2023</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,920<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">129,798<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">773,014<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">33,236<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">937,968<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,770.31<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:77.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">403<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">198,001<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">10,973<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">209,377<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:77.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,632.02<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:89.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercised</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(11,900)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(74,672)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(26,390)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(112,962)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,341.40<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:89.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,657.76<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:101.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expired</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,200)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(117)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,317)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:101.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,225.18<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:113.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(32)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(43,143)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(43,175)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:113.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,274.50<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">21,295<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(103,396)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">82,101<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:137.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,323<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">139,193<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">791,715<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">56,660<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">989,891<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,980.25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:137.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:57.04pt;position:var(--position)"></span><span style="left:57.04pt;position:var(--position)">1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:149.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable at year end</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">875<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">123,345<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">246,635<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">45,686<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">416,541<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:149.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,416.25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:161.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable warrants in the money at year end</span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">617<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">123,345<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">192,945<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">43,632<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">360,539<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:161.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,272.37<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:173.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2024</span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,323<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">139,193<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">791,715<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">56,660<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">989,891<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:173.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,980.25<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:185.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">694<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">354,255<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">14,898<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">369,847<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:185.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,974.71<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:197.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercised</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(63,811)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(31,721)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(17,119)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(112,651)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,143.29<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:197.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,877.19<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:209.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expired</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(155)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(132)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(287)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,032.00<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:221.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(73)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(39,564)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(39,637)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:221.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,300.10<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:233.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">555<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(53,903)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">53,348<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:233.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:245.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">75,937<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,060,118<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">68,091<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,207,163<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,046.38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:245.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:57.04pt;position:var(--position)"></span><span style="left:57.04pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:257.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable at year end</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,226<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">63,405<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">321,099<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">60,686<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">446,416<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:257.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,759.86<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:269.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable warrants in the money at year end</span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">46,166<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">77,669<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">25,477<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">149,312<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:269.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,131.68<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:281.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at January 1, 2025</span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">3,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">75,937<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,060,118<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">68,091<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,207,163<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:281.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,046.38<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:1pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:293.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Granted¹</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">835<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">504,180<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">42,373<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">547,388<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:293.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,613.94<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:305.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercised</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(46,166)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(51,271)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(30,638)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(128,075)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,139.53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:623.25pt;position:var(--position);top:305.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,689.89<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:317.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expired</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(468)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(1,605)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(2,073)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:317.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">989.32<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:329.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Forfeited</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(14)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(92,764)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:38.88pt"></span></span><span style="left:41.510000000000005pt;position:var(--position)">(92,778)</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:329.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,936.81<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:341.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Transfers</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,934<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:43.32pt"></span></span><span style="left:45.95pt;position:var(--position)">(3,556)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.44pt"></span></span><span style="left:37.07pt;position:var(--position)">(128,054)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">129,676<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:341.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:353.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Outstanding at December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">5,786<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">26,215<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,384,491<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">115,133<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.44pt"></span></span><span style="left:33.07pt;position:var(--position)">1,531,625<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,975.81<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:353.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:57.04pt;position:var(--position)"></span><span style="left:57.04pt;position:var(--position)">2<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:365.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable at year end</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,325<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">22,442<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">411,526<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">96,028<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">532,321<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:365.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">2,109.73<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:377.25pt;width:191.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:191.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercisable warrants in the money at year end</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:191.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">617<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:263.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">5,597<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:335.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">88,025<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:407.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">23,214<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:479.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">117,453<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:551.25pt;position:var(--position);top:377.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.88pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,546.60<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:522.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Warrants held by the Board include warrants granted to employee-elected Board Members as employees of Genmab A/S or its subsidiaries.</span></div> 1920 129798 773014 33236 937968 1770.31 403 198001 10973 209377 2632.02 11900 74672 26390 112962 1341.4 2657.76 1200 117 1317 1225.18 32 43143 43175 2274.5 -21295 103396 -82101 2323 139193 791715 56660 989891 1980.25 0.01 875 123345 246635 45686 416541 1416.25 617 123345 192945 43632 360539 1272.37 2323 139193 791715 56660 989891 1980.25 694 354255 14898 369847 1974.71 63811 31721 17119 112651 1143.29 1877.19 155 132 287 1032 73 39564 39637 2300.1 -555 53903 -53348 3017 75937 1060118 68091 1207163 2046.38 0.02 1226 63405 321099 60686 446416 1759.86 46166 77669 25477 149312 1131.68 3017 75937 1060118 68091 1207163 2046.38 835 504180 42373 547388 1613.94 46166 51271 30638 128075 1139.53 1689.89 468 1605 2073 989.32 14 92764 92778 1936.81 -1934 3556 128054 -129676 5786 26215 1384491 115133 1531625 1975.81 0.02 2325 22442 411526 96028 532321 2109.73 617 5597 88025 23214 117453 1546.6 962 3172 P4Y5M1D 962 3172 P4Y2M26D <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation Expenses</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation expense is recognized in the Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Income based on the estimated fair value of the awards at grant date. Subsequently, the fair value is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not remeasured. The expense recognized reflects an estimate of the number of awards expected to vest </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">after taking into consideration an estimate of award forfeitures based on historical experience and is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognized on a straight-line basis over the requisite service period, which is the vesting period. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab reassesses its estimate of the number of shares expected to vest periodically.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:279.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management expectations related to the achievement of performance goals associated with performance-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">based RSU grants are assessed periodically, and that assessment is used to determine whether such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">grants are expected to vest or if any revision to the current estimate is required. Genmab recognizes the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">impact of the revised estimate of the number of awards expected to vest, if any, as an adjustment to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">income statement over the remaining vesting period. If performance-based milestones related to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performance-based RSU grants are not met or not expected to be met, any share-based compensation </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expense recognized to date associated with grants that are not expected to vest will be reversed.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:364.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation expenses represent calculated values of warrants, RSUs and performance-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:375.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">based RSUs granted and do not represent actual cash expenditures. A corresponding amount is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">recognized in shareholders’ equity as the warrant, RSU and performance-based RSU programs are </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:397.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">designated as equity-settled share-based payment transactions.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of each RSU and performance-based RSU granted during the year is calculated using </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the closing share price on the grant date. Below is a description of how the fair value of warrants is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:438.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">measured and the estimates involved.</span></div> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of each warrant granted during the year is calculated using the Black-Scholes pricing model </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">with the following assumptions:</span></div><div style="position:var(--position);top:314.97pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Weighted average</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Fair value per warrant on grant date</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.43pt"></span></span><span style="left:37.06pt;position:var(--position)">503.09<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.43pt"></span></span><span style="left:37.06pt;position:var(--position)">639.67<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:34.43pt"></span></span><span style="left:37.06pt;position:var(--position)">924.10<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share price</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,613.94<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,974.71<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">2,632.02<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise price</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,613.94<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">1,974.71<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.77pt"></span></span><span style="left:30.4pt;position:var(--position)">2,632.02<span style="display:inline-block;height:5.82pt;width:9.77pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expected dividend yield</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:53.48pt;position:var(--position)"></span><span style="left:53.48pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:53.48pt;position:var(--position)"></span><span style="left:53.48pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:53.48pt;position:var(--position)"></span><span style="left:53.48pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expected stock price volatility</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">31.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">32.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">35.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:71.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Risk-free interest rate</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">2.05<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">2.26<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:71.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:45.94pt;position:var(--position)"></span><span style="left:45.94pt;position:var(--position)">2.48<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Expected life of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.17pt;position:var(--position);text-decoration:none;white-space:pre">5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.17pt;position:var(--position);text-decoration:none;white-space:pre">5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:43.17pt;position:var(--position);text-decoration:none;white-space:pre">5 years</span></div></div></div></td></tr></tbody></table></div></div></div><div style="position:var(--position);top:423.22pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:162pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Total Fair Value of Amounts Granted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.67pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:2.81pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Total fair value of warrants granted</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.56pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.21pt;position:var(--position);text-decoration:none;white-space:pre">275</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.53pt;position:var(--position);text-decoration:none;white-space:pre"> million</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.56pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.21pt;position:var(--position);text-decoration:none;white-space:pre">237</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.53pt;position:var(--position);text-decoration:none;white-space:pre"> million</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:2.81pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.56pt;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:31.21pt;position:var(--position);text-decoration:none;white-space:pre">193</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.53pt;position:var(--position);text-decoration:none;white-space:pre"> million</span></div></div></div></td></tr></tbody></table></div></div></div> 503.09 639.67 924.10 1613.94 1974.71 2632.02 1613.94 1974.71 2632.02 0 0 0 0.313 0.323 0.353 0.0205 0.0226 0.0248 P5Y P5Y P5Y 275000000 237000000 193000000 1 64238408 1 1 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">See table below for warrants issued and reissued and warrants available for reissue under active </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:295.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">authorizations as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:108.33000000000001pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:178.48pt;position:var(--position);text-decoration:none;white-space:pre">:</span></div><div style="position:var(--position);top:314.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.04pt;position:var(--position);text-decoration:none;white-space:pre">March 12, 2025</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.04pt;position:var(--position);text-decoration:none;white-space:pre">March 13, 2024</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.05pt;position:var(--position);text-decoration:none;white-space:pre">April 13, 2021</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.09pt;position:var(--position);text-decoration:none;white-space:pre">Authorization</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.09pt;position:var(--position);text-decoration:none;white-space:pre">Authorization</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.09pt;position:var(--position);text-decoration:none;white-space:pre">Authorization</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:22.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants issued</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">358,760<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:22.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">750,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants reissued</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:34.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">65,463<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:46.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants available for issue</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">750,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:37.1pt"></span></span><span style="left:39.730000000000004pt;position:var(--position)">391,240<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:46.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Warrants available for reissue</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">30,310<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:58.5pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:41.54pt"></span></span><span style="left:44.17pt;position:var(--position)">38,731<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div> 0 358760 750000 0 0 65463 750000 391240 0 0 30310 38731 64000000 64238408 1 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:93pt"></td><td style="padding:0;width:65.25pt"></td><td style="padding:0;width:57pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:111pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td rowspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="height:31.5pt;left:93pt;overflow:hidden;position:var(--position);width:65.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:13.97pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.04pt;position:var(--position);text-decoration:none;white-space:pre">Number of </span></div><div style="line-height:7.5pt;position:var(--position);top:22.97pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.33pt;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);width:57pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.6pt;position:var(--position);text-decoration:none;white-space:pre">Share capital</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.35pt;position:var(--position);text-decoration:none;white-space:pre">Share capital</span></div></div></div></td><td rowspan="2" style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);width:111pt"><div><div style="line-height:7.5pt;position:var(--position);top:22.97pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:35.26pt;position:var(--position);text-decoration:none;white-space:pre">Share Price Ranges</span><span style="font-family:'Arial', sans-serif;font-size:4.875pt;font-style:normal;font-weight:bold;left:105.66pt;position:var(--position);text-decoration:none;top:-1.9109999999999998pt;vertical-align:super;white-space:pre">1</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:11.25pt;width:57pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:6.94pt;position:var(--position);text-decoration:none;white-space:pre">(DKK million)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:11.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:30.81pt;position:var(--position);text-decoration:none;white-space:pre">(USD </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.49pt;position:var(--position);text-decoration:none;white-space:pre">million)</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:31.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">65,961,573<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:31.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:43.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.35pt"></span></span><span style="left:32.980000000000004pt;position:var(--position)">112,962<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:43.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);top:43.5pt;width:111pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.8pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">815.50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.5pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> to DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.28999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1,948.00</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:55.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">66,074,535<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:55.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:67.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.35pt"></span></span><span style="left:32.980000000000004pt;position:var(--position)">112,651<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:67.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);top:67.5pt;width:111pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.8pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">962.00</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.5pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> to DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.28999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1,615.00</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:79.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">66,187,186<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:79.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">66</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Exercise of warrants</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:91.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.35pt"></span></span><span style="left:32.980000000000004pt;position:var(--position)">128,075<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:91.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:267pt;position:var(--position);top:91.5pt;width:111pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:111pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:20.8pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">962.00</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.5pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre"> to DKK </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:73.28999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1,615.00</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share capital reduction</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:103.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.03pt"></span></span><span style="left:23.66pt;position:var(--position)">(2,076,853)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:103.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:44.61pt;position:var(--position);text-decoration:none;white-space:pre">(2)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:93pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:93pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:93pt;position:var(--position);top:115.5pt;width:65.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:65.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:19.25pt"></span></span><span style="left:21.88pt;position:var(--position)">64,238,408<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:158.25pt;position:var(--position);top:115.5pt;width:57pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:57pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.49pt;position:var(--position);text-decoration:none;white-space:pre">64</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:215.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.24pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:248.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">New shares were subscribed at share prices in connection with the exercise of warrants under Genmab’s warrant </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:257.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">program.</span></div> 65961573 66000000 10000000 112962 0 0 815.50 1948 66074535 66000000 10000000 112651 0 0 962.00 1615 66187186 66000000 10000000 128075 0 0 962.00 1615 2076853 2000000 0 64238408 64000000 10000000 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:90pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.66pt;position:var(--position);text-decoration:none;white-space:pre">Number of shares</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.72pt;position:var(--position);text-decoration:none;white-space:pre">Share capital</span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.27pt;position:var(--position);text-decoration:none;white-space:pre"> (USD million)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.93pt;position:var(--position);text-decoration:none;white-space:pre">Proportion of </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:14.81pt;position:var(--position);text-decoration:none;white-space:pre">share capital %</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.72pt;position:var(--position);text-decoration:none;white-space:pre">Cost</span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:22.35pt;position:var(--position);text-decoration:none;white-space:pre">(USD million)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.51pt;position:var(--position);text-decoration:none;white-space:pre">589,948</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">0.9<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">201</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Purchase of treasury </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:40.51pt;position:var(--position);text-decoration:none;white-space:pre">220,000</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">0.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">81</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:62.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shares used for funding </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSU program</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:39.63pt;position:var(--position);text-decoration:none;white-space:pre">(65,778)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(0.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(18)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:83.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:40.51pt;position:var(--position);text-decoration:none;white-space:pre">744,170</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">1.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:83.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">263</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:104.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Purchase of treasury </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:34.44pt;position:var(--position);text-decoration:none;white-space:pre">2,011,853</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">3.0<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:104.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">560</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shares used for funding </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSU program</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.19pt;position:var(--position);text-decoration:none;white-space:pre">(109,016)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(0.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:125.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(36)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:33.85pt;position:var(--position);text-decoration:none;white-space:pre">2,647,007</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">4.0<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">787</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:167.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Purchase of treasury </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:33.85pt;position:var(--position);text-decoration:none;white-space:pre">2,200,000</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">3.3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:167.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">430<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:21pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:188.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shares used for funding </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">RSU program</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:35.19pt;position:var(--position);text-decoration:none;white-space:pre">(150,749)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.96pt"></span></span><span style="left:60.59pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(0.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:188.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:55.17pt;position:var(--position);text-decoration:none;white-space:pre">(53)</span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:209.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Reduction in share </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">capital</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:28.53pt;position:var(--position);text-decoration:none;white-space:pre">(2,076,853)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.2pt"></span></span><span style="left:54.830000000000005pt;position:var(--position)">(0.3)</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:47.72pt;position:var(--position)"></span><span style="left:47.72pt;position:var(--position)">(3.1)</span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:209.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(572)</span></span></div></div></div></td></tr><tr style="height:21pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:230.25pt;width:90pt"><div><div style="line-height:8pt;position:var(--position);top:2.75pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Shareholding at </span></div><div style="line-height:8pt;position:var(--position);top:12pt;width:90pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:90pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:33.85pt;position:var(--position);text-decoration:none;white-space:pre">2,619,405</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.86pt"></span></span><span style="left:57.49pt;position:var(--position)">0.4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:50.38pt;position:var(--position)"></span><span style="left:50.38pt;position:var(--position)">4.1<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span><span style="left:64.14pt;position:var(--position)">%</span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:230.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:12pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:56.05pt;position:var(--position);text-decoration:none;white-space:pre">592</span></div></div></div></td></tr></tbody></table></div></div> 589948 100000 0.009 201000000 220000 0 0.003 81000000 65778 0 0.001 18000000 744170 100000 0.011 263000000 2011853 300000 0.030 560000000 109016 0 0.001 36000000 2647007 400000 0.040 787000000 2200000 300000 0.033 430000000 150749 0 0.001 53000000 2076853 300000 0.031 572000000 2619405 400000 0.041 592000000 0.10 0.10 0.10 2200000 0.033 430000000 2011853 0.030 560000000 3804436 2619405 2076853 2076853 1 <div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:91.5pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:3pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td><td style="padding:0;width:47.25pt"></td></tr><tr style="height:11.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);width:141.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:141.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:112.07pt;position:var(--position);text-decoration:none;white-space:pre">Current</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);width:141.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:141.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:95.01pt;position:var(--position);text-decoration:none;white-space:pre">Non-Current</span></div></div></div></td></tr><tr style="height:20.25pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.54pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.38pt;position:var(--position);text-decoration:none;white-space:pre">December </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:34.2pt;position:var(--position);text-decoration:none;white-space:pre">31,</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:11.25pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.54pt;position:var(--position);text-decoration:none;white-space:pre">January 1,</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:31.5pt;width:47.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:27.94pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:42.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan A (Secured)</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:32.33pt"></span></span><span style="left:34.96pt;position:var(--position)">53<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">909<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:42.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:54.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan B (Secured)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">207<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.23pt"></span></span><span style="left:23.86pt;position:var(--position)">1,707<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:54.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:66.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Secured Notes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.77pt"></span></span><span style="left:39.400000000000006pt;position:var(--position)">7<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.23pt"></span></span><span style="left:23.86pt;position:var(--position)">1,434<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:66.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:78.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Unsecured Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.77pt"></span></span><span style="left:39.400000000000006pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">951<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:78.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:90.75pt;width:91.5pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:91.5pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total Borrowings</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:91.5pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:27.89pt"></span></span><span style="left:30.52pt;position:var(--position)">273<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:138.75pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:186pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:236.25pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:21.23pt"></span></span><span style="left:23.86pt;position:var(--position)">5,001<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:283.5pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:330.75pt;position:var(--position);top:90.75pt;width:47.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:47.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:33.21pt"></span></span><span style="left:35.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Terms and conditions of borrowings </span></div><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:42.31pt;position:var(--position);text-decoration:none;white-space:pre">Interest</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.92pt;position:var(--position);text-decoration:none;white-space:pre">Maturity Date</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:17.73pt;position:var(--position);text-decoration:none;white-space:pre">Nominal Value</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan A (Secured)</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:26.75pt;position:var(--position);text-decoration:none;white-space:pre">5.48%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.4pt;position:var(--position);text-decoration:none;white-space:pre"> Float</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2030</span></div></div></div></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Term Loan B (Secured)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:26.75pt;position:var(--position);text-decoration:none;white-space:pre">6.73%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.4pt;position:var(--position);text-decoration:none;white-space:pre"> Float</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2032</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">2,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Secured Notes</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:24.97pt;position:var(--position);text-decoration:none;white-space:pre">6.25%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:47.62pt;position:var(--position);text-decoration:none;white-space:pre"> Fixed</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2032</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,500<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Unsecured Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:24.97pt;position:var(--position);text-decoration:none;white-space:pre">7.25%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:47.62pt;position:var(--position);text-decoration:none;white-space:pre"> Fixed</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:12.54pt;position:var(--position);text-decoration:none;white-space:pre">December 2033</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,000<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:59.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:59.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">5,500<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:204.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">The interest rate listed is the current percentage as of December 31, 2025, and is subject to change. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:223.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Contractual undiscounted cash flows</span><span style="font-family:'Arial', sans-serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:normal;left:612.97pt;position:var(--position);text-decoration:none;top:-2.674pt;vertical-align:super;white-space:pre">1</span></div><div style="position:var(--position);top:236.17pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:126.75pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:50.25pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.31pt;position:var(--position);text-decoration:none;white-space:pre">Term Loan </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.57pt;position:var(--position);text-decoration:none;white-space:pre">A (Secured)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.31pt;position:var(--position);text-decoration:none;white-space:pre">Term Loan </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.57pt;position:var(--position);text-decoration:none;white-space:pre">B (Secured)</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.04pt;position:var(--position);text-decoration:none;white-space:pre">Secured </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.8pt;position:var(--position);text-decoration:none;white-space:pre">Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:8.88pt;position:var(--position);text-decoration:none;white-space:pre">Unsecured </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:26.8pt;position:var(--position);text-decoration:none;white-space:pre">Notes</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);width:50.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:29.72pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Payments due</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Within 1 year</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">105<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">331<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">90<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:35.33pt"></span></span><span style="left:37.96pt;position:var(--position)">69<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:32.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">595<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">1 – 3 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">201<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">810<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">188<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">145<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:44.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,344<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">3 – 5 years</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">937<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">442<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">188<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:30.89pt"></span></span><span style="left:33.52pt;position:var(--position)">145<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,712<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">More than 5 years</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:36.21pt"></span></span><span style="left:38.84pt;position:var(--position)">—<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,008<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,688<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,218<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:68.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">3,914<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:80.25pt;width:126.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:126.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:126.75pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,243<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:177pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,591<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:227.25pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">2,154<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:277.5pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">1,577<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:327.75pt;position:var(--position);top:80.25pt;width:50.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:50.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:24.23pt"></span></span><span style="left:26.86pt;position:var(--position)">7,565<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:341.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">With respect to debt, the amounts below combine interest and scheduled amortization payments. Interest on floating </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:350.42pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:435.01pt;position:var(--position);text-decoration:none;white-space:pre">rate debt was calculated based on the interest rate in effect on December 31, 2025.</span></div> 53000000 0 0 909000000 0 0 207000000 0 0 1707000000 0 0 7000000 0 0 1434000000 0 0 6000000 0 0 951000000 0 0 273000000 0 0 5001000000 0 0 0.0548 1000000000 0.0673 2000000000 0.0625 1500000000 0.0725 1000000000 5500000000 105000000 331000000 90000000 69000000 595000000 201000000 810000000 188000000 145000000 1344000000 937000000 442000000 188000000 145000000 1712000000 0 1008000000 1688000000 1218000000 3914000000 1243000000 2591000000 2154000000 1577000000 7565000000 1000000000 2000000000 4.5 3.75 2.00 2.50 3.00 150000000 0.50 0.25 2.15 1.65 1.65 11100000000 1500000000 1000000000.0 P3Y 300000000 P5Y 500000000 0 0 5247000000 27000000 5274000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Borrowings are financial liabilities that are initially recognized at the fair value of the proceeds received less </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">transaction costs in the Consolidated Balance Sheets. In subsequent periods these are measured </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">at amortized cost using the effective interest method. Interest expense, including the amortization of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">transaction costs and any difference between the initial carrying amount and the redemption amount, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:380.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is recognized in financial expenses in the Consolidated Statements of Comprehensive Income over the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">term of the borrowings.</span></div> <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:25pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Section 5 - Other Disclosures</span><div style="font-size:12pt;line-height:12pt;position:var(--position);top:146.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">This section is comprised of various statutory disclosures or notes that </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:160.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">are of secondary importance for the understanding of Genmab’s </span></div><div style="font-size:12pt;line-height:12pt;position:var(--position);top:174.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">financials.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">5.1 - Remuneration of the Board of Directors and Executive </span><div style="font-size:12pt;line-height:12pt;position:var(--position);top:207.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:226.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total remuneration of the Board of Directors and Executive Management is as follows:</span></div><div style="position:var(--position);top:245.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Wages and salaries</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">16</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">15</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">30</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">23</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">15</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Defined contribution plans</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">47</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">39</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">25</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The remuneration packages for the Board and Executive Management are described in further detail in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:75.34pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:93.1pt;position:var(--position);text-decoration:none;white-space:pre"> Compensation Report. The remuneration packages are denominated in DKK, EUR, or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">USD. The Compensation Committee of the Board performs an annual review of the remuneration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:350.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">packages. All incentive and variable remuneration is considered and adopted at the Company’s Annual </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:361.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">General Meeting.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:380.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation is included in the Consolidated Statements of Comprehensive Income and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">reported in the table above. Share-based compensation expense represents the estimated fair value of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">awards at grant date and does not represent actual cash compensation received by the Board Members or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Executive Management. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">4.6</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1"> for additional information regarding Genmab’s share-based compensation programs and </a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:442.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1681" style="color:inherit;text-decoration:inherit;z-index:1">accounting policies. </a></span></div><div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Remuneration To The Board Of Directors</span></div><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:128.25pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:49.3pt;position:var(--position);text-decoration:none;white-space:pre">Base Board Fee</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">Committee </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:69.08pt;position:var(--position);text-decoration:none;white-space:pre">Fees</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.1pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation Expenses</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:68.67pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Deirdre P. Connelly</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Pernille Erenbjerg</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Anders Gersel Pedersen</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Paolo Paoletti</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Rolf Hoffmann</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Elizabeth O’Farrell</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Mijke Zachariasse</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:64.96pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Martin Schultz</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:51.56pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:127.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Takahiro Hamatani</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:67.17999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Michael Kavanagh</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:66.42pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:151.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.9</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.2</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">2.7</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:296.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Employee elected board members were elected at the Annual General Meeting in March 2025.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:305.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Takahiro Hamatani was replaced by Michael Kavanagh as an </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:236.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre">employee elected board members at the Annual General Meeting in March 2025.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:324.82pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_2482" style="color:inherit;text-decoration:inherit;z-index:1">Refer to the section “</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:110.99000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_2482" style="color:inherit;text-decoration:inherit;z-index:1">Board of Directors</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:181.12pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_2482" style="color:inherit;text-decoration:inherit;z-index:1">” in Management’s Review for additional information regarding the Board of Directors.</a></span></div></div><div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Remuneration To The Executive Management</span></div><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:89.25pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.75pt;position:var(--position);text-decoration:none;white-space:pre">Base Salary</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.71pt;position:var(--position);text-decoration:none;white-space:pre">Defined Contribution Plans</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:28.19pt;position:var(--position);text-decoration:none;white-space:pre">Other Benefits</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.39pt;position:var(--position);text-decoration:none;white-space:pre">Annual Cash Bonus</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.02pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.49pt;position:var(--position);text-decoration:none;white-space:pre">Expenses</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.05pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Jan van de Winkel</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.4</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">7.4</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.0</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">10.7</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">7.9</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">6.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Anthony Pagano</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.8</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Anthony Mancini</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:59.88pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">7.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judith Klimovsky</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tahamtan Ahmadi</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.9</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.9</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Birgitte Stephensen</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:70.05pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.4</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Christopher Cozic</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:64.07pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.9</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Martine van Vugt</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:60.800000000000004pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:127.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Brad Bailey</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:42.150000000000006pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Rayne Waller</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:48.84pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:151.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Greg Mueller</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#F3F3F3;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:163.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">6.7</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">6.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.6</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">27.9</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">21.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">13.6</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">43.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">34.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">22.8</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:305.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Birgitte Stephensen and Christopher Cozic were appointed Chief Legal Officer and Chief People Officer, respectively, and members of the Executive Management in March 2022. </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:314.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Martine van Vugt was appointed Chief Strategy Officer and member of the Executive Management in March 2023.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:323.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Anthony Mancini stepped down as Executive Vice President and Chief Operating Officer in September 2024. </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:332.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Brad Bailey and Rayne Waller were appointed Executive Vice President and Chief Commercial Officer, and Executive Vice President and Chief Technical Operations Officer, respectively, and members of the Executive Management in August </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:341.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">2024.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:360.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Jan van de Winkel, President and Chief Executive Officer, and Anthony Pagano, Executive Vice President and Chief Financial Officer, are formally registered as executive managers with the Danish Business Authority.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:379.82pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_2492" style="color:inherit;text-decoration:inherit;z-index:1">Refer to the section “</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:110.99000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_2492" style="color:inherit;text-decoration:inherit;z-index:1">Executive Management</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:199.32999999999998pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_2492" style="color:inherit;text-decoration:inherit;z-index:1">” in Management’s Review for additional information regarding the Executive Management.</a></span></div></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Severance Payments</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In the event Genmab terminates the service agreements with any member of the Executive Management </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">team without cause, Genmab is obliged to pay his/her existing salary for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:293.46000000000004pt;position:var(--position);text-decoration:none;white-space:pre"><span style="-sec-ix-hidden:f-2296">one</span></span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:306.78000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> or</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:316.1pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:318.32000000000005pt;position:var(--position);text-decoration:none;white-space:pre">two years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:352.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> after the end of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:50.17pt;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:63.49pt;position:var(--position);text-decoration:none;white-space:pre">-year</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:81.69pt;position:var(--position);text-decoration:none;white-space:pre"> notice period. However, in the event of termination by Genmab (unless for cause) or by any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">member of Executive Management as a result of a change of control of Genmab, Genmab is obliged to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">pay compensation equal to his/her existing total salary (including benefits) for up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:331.62pt;position:var(--position);text-decoration:none;white-space:pre">two years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:365.81pt;position:var(--position);text-decoration:none;white-space:pre"> in addition to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:175.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the notice period. The total value of remuneration relating to the notice period for new members of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:186.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Executive Management cannot exceed </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:176.73pt;position:var(--position);text-decoration:none;white-space:pre">two years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:210.92pt;position:var(--position);text-decoration:none;white-space:pre"> of remuneration, including all components of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:197.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">remuneration. In case of the termination of the service agreements of the Executive Management without </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:208.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">cause, the total impact on Genmab’s financial position is estimated to be approximately </span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">$19 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:75.00999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:96.77000000000001pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:166.92pt;position:var(--position);text-decoration:none;white-space:pre"> (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:171.79999999999998pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:189.56pt;position:var(--position);text-decoration:none;white-space:pre">: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:194pt;position:var(--position);text-decoration:none;white-space:pre">$17 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:232.16pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:236.6pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:254.35999999999999pt;position:var(--position);text-decoration:none;white-space:pre">: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:258.8pt;position:var(--position);text-decoration:none;white-space:pre">$15 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.96000000000004pt;position:var(--position);text-decoration:none;white-space:pre">).</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">5.2 - Related Party Disclosures</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:257.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s related parties are its Board, Executive Management, and close members of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:268.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">family of these persons. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:287.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has not granted any loans, guarantees or other commitments to or on behalf of any of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:298.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">members of the Board or members of the Executive Management. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:317.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Other than the remuneration and other transactions relating to the Board of Directors and the Executive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:328.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Management described in </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:130.97pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1753" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:148.72pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:150.94pt;position:var(--position);text-decoration:none;white-space:pre">5.1</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:162.04pt;position:var(--position);text-decoration:none;white-space:pre">, there were no material related party transactions during </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:364.46000000000004pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:382.22pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:386.66pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:404.42pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:339.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:52.39pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:70.15pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">5.3 - Commitments</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:377.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Purchase Obligations</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:389.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab has entered into a number of agreements related to research and development activities that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:400.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">contain various obligations. These contractual obligations amounted to approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:339.92pt;position:var(--position);text-decoration:none;white-space:pre">$608 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:382.52000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:411.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:107pt;position:var(--position);text-decoration:none;white-space:pre"> (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:111.88pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:129.64000000000001pt;position:var(--position);text-decoration:none;white-space:pre">: approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:186.01999999999998pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:190.46pt;position:var(--position);text-decoration:none;white-space:pre">403 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:228.62pt;position:var(--position);text-decoration:none;white-space:pre">). </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab also has certain contingent commitments under license and collaboration agreements that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:441.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">may become due in the future. As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:166.95pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:237.1pt;position:var(--position);text-decoration:none;white-space:pre">, these contingent commitments amounted to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:88.78999999999999pt;position:var(--position);text-decoration:none;white-space:pre">$2.7 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:126.94999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> in potential future development, regulatory and commercial milestone payments </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to third parties under license and collaboration agreements for our preclinical and clinical stage </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:474.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development programs as compared to approximately </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:229.98pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:234.42pt;position:var(--position);text-decoration:none;white-space:pre">2.2 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:268.14pt;position:var(--position);text-decoration:none;white-space:pre"> as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:289.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:360.05pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:485.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">These milestone payments generally become due and payable only upon the achievement of certain </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:496.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development, clinical, regulatory or commercial milestones. The events triggering such payments or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:507.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">obligations have not yet occurred.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:526.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In addition to the above obligations, Genmab enters into a variety of agreements and financial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:537.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">commitments in the normal course of business. The terms generally allow Genmab the option to cancel, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:548.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">reschedule and adjust our requirements based on our business needs prior to the delivery of goods or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">performance of services. It is not possible to predict the maximum potential amount of future payments </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">under these agreements due to the conditional nature of our obligations and the unique facts and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">circumstances involved in each particular agreement.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">5.4 - Fees to Auditors Appointed at the Annual General Meeting</span><div style="position:var(--position);top:167.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Audit fees</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.7</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Audit-related fees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">2.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.4</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab changed auditors from PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab (PwC) </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to Deloitte Statsautoriseret Revisionspartnerselskab (Deloitte) as Genmab’s new statutory auditor and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">independent registered public accounting firm for the fiscal year beginning January 1, 2024, replacing </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">PwC. As such, fees in the table above reflect those incurred by Deloitte in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:688.01pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:705.77pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:723.53pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:741.29pt;position:var(--position);text-decoration:none;white-space:pre"> and by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">PwC in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:454.03pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:471.78999999999996pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Fees for other services than statutory audit of the financial statements provided by Deloitte amounted to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">$0.8 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:466.89pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:477.53999999999996pt;position:var(--position);text-decoration:none;white-space:pre">2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:495.3pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:499.74pt;position:var(--position);text-decoration:none;white-space:pre">$0.3 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:540.12pt;position:var(--position);text-decoration:none;white-space:pre"> in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:550.77pt;position:var(--position);text-decoration:none;white-space:pre">2024</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:568.53pt;position:var(--position);text-decoration:none;white-space:pre">, and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:588.51pt;position:var(--position);text-decoration:none;white-space:pre">$0.5 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:628.89pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:631.11pt;position:var(--position);text-decoration:none;white-space:pre">in </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:639.54pt;position:var(--position);text-decoration:none;white-space:pre">2023</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:657.3pt;position:var(--position);text-decoration:none;white-space:pre">, provided by PwC. These services </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">primarily include agreed-upon procedures, other assurance assessments and reports, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and accounting advice. </span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">5.5 -  Acquisitions</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:361.97pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Merus N.</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:470.8pt;position:var(--position);text-decoration:none;white-space:pre">V</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:477.8pt;position:var(--position);text-decoration:none;white-space:pre">. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:374.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">On December 12, 2025 Genmab completed the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:597.01pt;position:var(--position);text-decoration:none;white-space:pre">acquisition</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:634.74pt;position:var(--position);text-decoration:none;white-space:pre"> of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:645.84pt;position:var(--position);text-decoration:none;white-space:pre">100%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:666.27pt;position:var(--position);text-decoration:none;white-space:pre"> of the common shares</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:747.53pt;position:var(--position);text-decoration:none;white-space:pre"> of Merus, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:385.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:433.17pt;position:var(--position);text-decoration:none;white-space:pre">clinical-stage biotechnology company with its late-stage breakthrough therapy asset petosemtamab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:396.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">(Peto), which is in Phase 3 development, for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:585pt;position:var(--position);text-decoration:none;white-space:pre">$97</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:598.3199999999999pt;position:var(--position);text-decoration:none;white-space:pre"> per share in an all-cash transaction with a total purchase </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:407.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">price of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:454.92pt;position:var(--position);text-decoration:none;white-space:pre">$8,017 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:504.18pt;position:var(--position);text-decoration:none;white-space:pre">. The transaction was funded through a combination of cash on hand and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:764.66pt;position:var(--position);text-decoration:none;white-space:pre">$5.5 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:802.8199999999999pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:418.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of non-convertible debt financing (Borrowings). </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:593.86pt;position:var(--position);text-decoration:none;white-space:pre">Refer to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:624.49pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_4032" style="color:inherit;text-decoration:inherit;z-index:1">Note</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:642.24pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:644.46pt;position:var(--position);text-decoration:none;white-space:pre">4.8</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:655.56pt;position:var(--position);text-decoration:none;white-space:pre"> for detailed information regarding </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:429.57pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s Borrowings. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:448.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The acquisition of Merus does not meet the definition of a business in accordance with IFRS 3 Business </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:459.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Combinations, therefore, this transaction is accounted for as an asset acquisition since substantially all of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:470.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the fair value of the acquired set of assets is concentrated in a single identifiable asset (i.e. Peto). The total </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:481.57pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">consideration of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:485.11pt;position:var(--position);text-decoration:none;white-space:pre">$8,017 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:534.37pt;position:var(--position);text-decoration:none;white-space:pre"> is allocated to net identifiable assets acquired on a relative fair value basis.</span></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total consideration for the acquisition of Merus is summarized as follows:</span></div><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:51.47pt;position:var(--position);text-decoration:none;white-space:pre">Total </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.99pt;position:var(--position);text-decoration:none;white-space:pre">Consideration</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash paid for outstanding shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,359<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash for equity compensation attributable to pre-modification of equity awards</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:268.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">596<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash paid by Genmab directly attributable acquisition related costs</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:230.76999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">62<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total consideration</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:207.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes payments made to Merus option holders which were vested prior to the acquistion date, and therefore related </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:216.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">to pre-acquistion service</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:225.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes professional fees related to legal, advisory and due diligence procedures that were directly attributable to the </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:234.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">acquisition of Merus by Genmab</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The allocation to net identifiable assets is as follows: </span></div><div style="position:var(--position);top:272.97pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.9pt;position:var(--position);text-decoration:none;white-space:pre">Amounts </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.73pt;position:var(--position);text-decoration:none;white-space:pre">Recognized as of </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.25pt;position:var(--position);text-decoration:none;white-space:pre">the Acquisition </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.13pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:38.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">745<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:72.61pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:50.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">52<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:62.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">IPR&amp;D intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">6,927<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:74.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Technology platform intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:74.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">369<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Licenses and patents</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">82<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other non-current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:88.11pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">29<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current contract liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(30)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current contract liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(21)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other liabilities</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:52.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(136)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">  Total identifiable net assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:444.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes current receivables, marketable securities and prepaid expenses</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:453.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes right-of-use assets, property and equipment and other investments</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:279.37pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:462.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes other current payables (primarily accrued expenses for R&amp;D and personnel costs), current lease liabilities and </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:471.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">non-current lease liabilities</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:490.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition- and integration-related charges of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:201.98pt;position:var(--position);text-decoration:none;white-space:pre">$185 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:244.57999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> incurred from the date of acquisition through </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:501.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025 are primarily related to professional fees incurred by Merus upon close of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">acquisition (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:79.46000000000001pt;position:var(--position);text-decoration:none;white-space:pre">$109 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:122.06pt;position:var(--position);text-decoration:none;white-space:pre">) and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:142.48pt;position:var(--position);text-decoration:none;white-space:pre">payments</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:177.12pt;position:var(--position);text-decoration:none;white-space:pre"> to Merus option holders for the portion of the equity payout </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:523.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">attributable to the post-acquisition period (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:185.54999999999998pt;position:var(--position);text-decoration:none;white-space:pre">$58 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:223.71pt;position:var(--position);text-decoration:none;white-space:pre">). These charges were expensed rather than </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:534.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">capitalized as part of purchase consideration because they were not directly attributable to the acquisition </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:545.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of Merus by Genmab.</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:113.66999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> The remaining expenses of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:214.31pt;position:var(--position);text-decoration:none;white-space:pre">$18 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:252.47pt;position:var(--position);text-decoration:none;white-space:pre"> are primarily integration related charges </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incurred from the Acquisition Date through December 31, 2025, which are comprised of professional fees </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incurred to assist with the integration of Merus into Genmab’s operations post-acquisition. Acquisition and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">integration related charges are presented in Genmab’s Consolidated Statements of Comprehensive </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Income. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Profound</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:473.13pt;position:var(--position);text-decoration:none;white-space:pre">B</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:480.71pt;position:var(--position);text-decoration:none;white-space:pre">io, Inc. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:172.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">On May 21, 2024 (Acquisition Date), Genmab completed the previously announced acquisition of all of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:183.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">outstanding shares of ProfoundBio, resulting in ProfoundBio becoming a wholly owned subsidiary of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab. The acquisition of ProfoundBio gave Genmab worldwide rights to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:693.1800000000001pt;position:var(--position);text-decoration:none;white-space:pre">three</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:711.38pt;position:var(--position);text-decoration:none;white-space:pre"> candidates in clinical </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">development, including ProfoundBio’s lead drug candidate, rinatabart sesutecan (Rina-S). In addition, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:459.37pt;position:var(--position);text-decoration:none;white-space:pre">acquired</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:490pt;position:var(--position);text-decoration:none;white-space:pre"> ProfoundBio’s novel ADC technology platforms. Rina-S is a clinical-stage, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">FRα-targeted, TOPO1 ADC, which was in Phase 2 of a Phase 1/2 clinical trial at the time of the acquisition, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">for the treatment of ovarian cancer and other FRα-expressing solid tumors. Based on the data from the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ongoing Phase 1/2 clinical trial Genmab intends to broaden the development plans for Rina-S within </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ovarian cancer and other FRαexpressing solid tumors. In January 2024, the FDA granted Fast Track </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">designation to Rina-S for the treatment of patients with FRα-expressing high-grade serous or endometrioid </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">platinum-resistant ovarian cancer. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In addition to payment of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:516.19pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:520.63pt;position:var(--position);text-decoration:none;white-space:pre">1.72 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:558.79pt;position:var(--position);text-decoration:none;white-space:pre"> for all of the outstanding shares of ProfoundBio, Genmab also made </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:433.17pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:437.61pt;position:var(--position);text-decoration:none;white-space:pre">199 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:475.77pt;position:var(--position);text-decoration:none;white-space:pre"> payment to holders of outstanding ProfoundBio equity awards for settlement of such vested </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and non-vested awards. Of the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:537.96pt;position:var(--position);text-decoration:none;white-space:pre">$199 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:580.56pt;position:var(--position);text-decoration:none;white-space:pre"> payment, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:617.86pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:622.3pt;position:var(--position);text-decoration:none;white-space:pre">187 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:660.46pt;position:var(--position);text-decoration:none;white-space:pre"> related to the portion of awards where </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the vesting period was completed prior to the Acquisition Date. This portion of the payment was therefore </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">determined to be attributable to the pre-combination period and included in purchase consideration. The </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:356.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">remaining </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:463.78999999999996pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:468.23pt;position:var(--position);text-decoration:none;white-space:pre">11 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:501.36pt;position:var(--position);text-decoration:none;white-space:pre"> payment related to the portion of awards with future vesting conditions, and therefore </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:367.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is attributable to post-combination services. The amount attributable to the post-combination service does </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:378.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">not form part of the consideration and was therefore instead recognized as Acquisition and integration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:389.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">related charges in Genmab’s Consolidated Statements of Comprehensive Income. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:408.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The acquisition has been accounted for using the acquisition method of accounting which requires that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:419.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">assets acquired and liabilities assumed be recognized at their fair values as of the Acquisition Date and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">consolidated into Genmab’s Consolidated Balance Sheets. The results of operations for ProfoundBio have </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:441.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">been included in Genmab’s consolidated financial statements from the Acquisition Date. A fair value </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">measurement has been performed and the purchase price has been allocated to intangible assets, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:463.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">associated deferred tax liabilities, other assets and liabilities, as well as goodwill being the excess value of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:474.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the purchase price over the fair value of assets acquired and liabilities assumed (</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:712.41pt;position:var(--position);text-decoration:none;white-space:pre">the</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:723.51pt;position:var(--position);text-decoration:none;white-space:pre"> purchase price </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:485.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">allocation). Adjustments may be applied to the purchase price allocation for a period of up to 12 months </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:496.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">from the Acquisition Date and was therefore finalized during the second quarter of 2025. During the fourth </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:507.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">quarter of 2024, the Company recorded a measurement period adjustment impacting non-current deferred </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:518.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">tax liabilities and goodwill that was not material. </span></div></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total consideration for the acquisition of ProfoundBio is summarized as follows:</span></div><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:51.47pt;position:var(--position);text-decoration:none;white-space:pre">Total </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.99pt;position:var(--position);text-decoration:none;white-space:pre">Consideration</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash paid for outstanding shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,718<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash for equity compensation attributable to pre-combination service</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">187<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total consideration</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,905<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash acquired</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(122)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash used for acquisition of asset</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,783<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:219.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The purchase price allocation resulted in the following amounts being allocated to the assets acquired and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:230.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">liabilities assumed at the Acquisition Date based upon their respective fair values summarized below:</span></div><div style="position:var(--position);top:249.97pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.9pt;position:var(--position);text-decoration:none;white-space:pre">Amounts </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.73pt;position:var(--position);text-decoration:none;white-space:pre">Recognized as of </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.25pt;position:var(--position);text-decoration:none;white-space:pre">the Acquisition </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.13pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:38.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">122<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:72.61pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:50.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:62.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Property and equipment</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:74.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">IPR&amp;D intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:74.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,540<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Technology platform intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">181<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other non-current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:88.11pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Deferred tax liability</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(292)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current liabilities</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:79.07pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total identifiable net assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,551<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">354<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:158.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total consideration</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,905<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:431.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes receivables and other investments.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:440.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes other investments and right-of-use assets.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:449.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes other payables, contract liabilities, lease and other liabilities.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The carrying values of other current assets, property and equipment, other non-current assets and other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:479.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">current liabilities were determined to approximate their fair values. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The fair value assigned to acquired IPR&amp;D, which was calculated using the multi-period excess earnings </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">method of the income approach, was based on the present value of expected after-tax cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">attributable to Rina-S, which was in Phase 1/2 testing. The present value of expected after-tax cash </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">flows obtainable from Rina-S and assigned to IPR&amp;D was determined by estimating the after-tax costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to complete development of Rina-S into a commercially viable product, estimating future revenue and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">ongoing expenses to produce, support and sell Rina-S, on an after-tax basis, and discounting the resulting </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:173.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">net cash flows to present value. The revenue and costs projections used were reduced based on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:184.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">probability that compounds at similar stages of development will become commercially viable products. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:195.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The rate utilized to discount the net cash flows to their present value reflects the risk associated with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:206.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">future earnings attributable to the intangible asset. Acquired IPR&amp;D will be accounted for as an intangible </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:217.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">asset not yet available for use until regulatory approval in a major market is received or development is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:228.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">discontinued. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:247.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The fair value of the technology platform intangible asset was calculated using the relief from royalty </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:258.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">method of the income approach. This method includes assigning value based on the economic savings </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:269.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">from owning, rather than in-licensing, the technology platform intangible asset supported by observable </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:280.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">market data for peer companies, then discounting the resulting probability-adjusted net post-tax cash flows </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:291.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">using a discount rate commensurate with the risk associated with the future income or cost savings </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:302.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">attributable to the intangible asset. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:321.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The significant assumptions used to estimate the value of the acquired intangible assets include discount </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:332.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">rates and certain assumptions that form the basis of future cash flows (such as probabilities of technical </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:343.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and regulatory success, revenue growth rates, operating margins, and royalty rates). </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:362.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The excess of purchase price over the fair value amounts assigned to identifiable assets acquired and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:373.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">liabilities assumed represents the goodwill amount resulting from the acquisition. The goodwill recorded as </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:384.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">part of the acquisition is attributable to the intangible assets that do not qualify for separate recognition at </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:395.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the time of the acquisition, assembled workforce and deferred tax consequences of the IPR&amp;D and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:406.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">technology platform intangible asset recorded for financial statement purposes. Genmab does not expect </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:417.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">any portion of this goodwill to be deductible for tax purposes. The goodwill attributable to the acquisition </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:428.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">has been recorded as a non-current asset in Genmab’s Consolidated Balance Sheets and is not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:439.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">amortized, but is subject to review for impairment annually. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:458.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Refer to </span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1">Note 3.1</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"> for further details related to the accounting for goodwill.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:476.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">From the Acquisition Date through December 31, 2024, Genmab’s Consolidated Statements of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:487.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Comprehensive Income include </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:540.61pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:549.49pt;position:var(--position);text-decoration:none;white-space:pre"> revenue and the following expenses associated with the acquisition and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:498.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">operations of ProfoundBio:</span></div></div><div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:306pt"><div><div style="line-height:8pt;position:var(--position);top:20.25pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income (USD million):</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:10.25pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition Date </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.75pt;position:var(--position);text-decoration:none;white-space:pre">through December </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.19pt;position:var(--position);text-decoration:none;white-space:pre">31, 2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:29.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">58<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisition and integration related charges¹</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">27<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">89<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:197.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition-related charges incurred from the Acquisition Date through December 31, 2024, are comprised of payments </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:206.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">to holders of outstanding ProfoundBio equity awards related to post-combination services (</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:325.6pt;position:var(--position);text-decoration:none;white-space:pre">$11 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:358.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre">). The remaining </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:215.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">expenses are integration-related charges incurred from the Acquisition Date through December 31, 2024, which are </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:224.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">comprised of professional fees incurred to assist with the integration of ProfoundBio into Genmab’s operations post-</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:233.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">acquisition. Additionally, prior to the Acquisition Date, Genmab recorded </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:268.71000000000004pt;position:var(--position);text-decoration:none;white-space:pre">$16 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:302.13pt;position:var(--position);text-decoration:none;white-space:pre"> in Acquisition and integration-</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:242.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">related charges in Genmab’s Consolidated Statements of Comprehensive Income related to professional due diligence </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:251.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">procedures in connection with the acquisition of ProfoundBio. The </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:250.45pt;position:var(--position);text-decoration:none;white-space:pre">$16 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:283.87pt;position:var(--position);text-decoration:none;white-space:pre"> of Acquisition- and integration-related </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:260.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">charges incurred prior to the Acquisition Date and the </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:212.1pt;position:var(--position);text-decoration:none;white-space:pre">$27 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:245.51999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> of Acquisition and integration charges incurred from </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:269.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">the Acquisition Date through December 31, 2024 total </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:213.26999999999998pt;position:var(--position);text-decoration:none;white-space:pre">$43 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:246.69pt;position:var(--position);text-decoration:none;white-space:pre"> through the fourth quarter of 2024.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:288.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The following table provides Genmab’s consolidated revenue and net profit for 2024 as if the acquisition of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:299.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio had occurred on January 1, 2024:</span></div><div style="position:var(--position);top:318.97pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:306pt"><div><div style="line-height:8pt;position:var(--position);top:29.25pt;width:306pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">(USD million)</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:19.82pt;position:var(--position);text-decoration:none;white-space:pre">Twelve Month </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.06pt;position:var(--position);text-decoration:none;white-space:pre">Period Ended </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:38.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,121</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net Profit</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:50.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,102</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:394.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The unaudited pro forma information does not necessarily reflect the actual results of operations of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:405.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">combined entities that would have been achieved, nor are they necessarily indicative of future results </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:416.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of operations. The unaudited pro forma information reflects certain adjustments that were directly </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:427.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">attributable to the acquisition of ProfoundBio, including additional amortization adjustments for the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:438.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">fair value of the technology platform intangible asset acquired. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:457.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, 2024, cash and cash equivalents in Genmab’s Consolidated Balance Sheets includes</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:411.45000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:468.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">$30 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:75.00999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> of restricted cash balances for funds held in escrow related to the acquisition of ProfoundBio. </span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:426.51pt;position:var(--position);width:216pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:198.75pt"></td></tr><tr style="height:17.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="height:17.25pt;overflow:hidden;position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_A.jpg" id="i-291" src="gmab-20251231_g111.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:198.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:4.27pt;width:198.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Accounting Policies</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:129.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Business Combinations</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The acquisition method of accounting is used to account for all acquisitions where the target company </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">meets the definition of a business in accordance with IFRS 3 (Business Combinations). The purchase price </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">for a business is comprised of the fair value of the assets transferred and liabilities owned to the former </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">owners, including option holders, of the acquired business and the fair value of any asset or liability </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">resulting from a contingent consideration arrangement. Any amount of the purchase price which effectively </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">comprises a settlement of a pre-existing relationship is not part of the exchange for the acquiree and is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:207.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">therefore not included in the consideration for the purpose of applying the acquisition method. Settlements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of pre-existing relationships are accounted for as separate transactions in accordance with the relevant </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">IFRS standards. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:248.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Identifiable assets and liabilities and contingent liabilities assumed are measured at fair value on the date </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:259.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of acquisition by applying relevant valuation methods. Goodwill is recognized as the excess of purchase </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">price over the fair value of net identifiable assets acquired and liabilities assumed. Acquisition-related </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">charges are expensed as incurred and included within Acquisition and integration-related charges in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:311.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Asset Acquisitions</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:322.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The asset acquisition method is applied to account for all transactions that do not meet the definition of a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:333.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">business in accordance with IFRS 3 Business Combinations.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:352.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab applies a ‘concentration test,’ which is a simplified assessment of whether an acquired set of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:363.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">activities and assets is not a business. The optional concentration test is met if substantially all of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:374.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:385.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">identifiable assets.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">At initial recognition, an asset acquisition is measured at cost. Cost comprises the fair value of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:415.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">consideration transferred plus any directly attributable acquisition-related costs. The cost price is allocated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to the individual identifiable assets acquired and liabilities assumed based on their relative fair values at the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:437.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acquisition date. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:486.44pt;position:var(--position);text-decoration:none;white-space:pre">No goodwill or deferred taxes are recognized.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition-related costs that are directly attributable to the acquisition of assets, such as legal, advisory, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and due diligence fees, are capitalized as part of the cost of the acquired assets in accordance with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">relevant IFRS standards (for example, IAS 16 Property, Plant and Equipment or IAS 38 Intangible Assets).</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:497.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Subsequent measurement of these assets follows the requirements of the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:689.36pt;position:var(--position);text-decoration:none;white-space:pre">relevant</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:717.77pt;position:var(--position);text-decoration:none;white-space:pre"> IFRS standards </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:508.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">applicable to each asset class.</span></div></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:17.25pt"></td><td style="padding:0;width:360.75pt"></td></tr><tr style="height:27.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:17.25pt"><div><div style="position:var(--position);top:2.63pt;width:17.25pt"><div style="left:0.08pt;position:var(--position)"><div style="position:var(--position)"><img alt="Financials_icon_B.jpg" id="i-293" src="gmab-20251231_g112.jpg" style="height:11.91pt;width:11.91pt"/></div></div></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:17.25pt;position:var(--position);width:360.75pt"><div><div style="line-height:10.5pt;position:var(--position);top:3.22pt;width:360.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Management’s Judgements and Estimates – </span></div><div style="line-height:10.5pt;position:var(--position);top:15.82pt;width:360.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Other Intangible Assets and Goodwill</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:140.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Fair Value and Impairment Assessment of Other Intangible Assets and Goodwill</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The application of the acquisition method for a business combination as well as allocation of fair value </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">through an asset acquisition involve the use of significant estimates because the identifiable net assets of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:173.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the acquiree are recognized at their fair values for which observable market prices are typically not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:184.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">available. This is particularly relevant for intangible assets which require use of valuation techniques </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:195.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">typically based on estimates of present value of future uncertain cash flows. The significant assumptions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:206.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">used to estimate the value of the acquired intangible assets include discount rates and certain assumptions </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:217.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">that form the basis of future cash flows (such as probabilities of technical and regulatory success, revenue </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:228.87pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">growth rates, operating margins, and royalty rates)</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:215.31pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">5.6 - Collaborations and Licenses</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:266.87pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Collaborations</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:279.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab enters into collaborations with biotechnology and pharmaceutical companies to advance the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:290.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development and commercialization of Genmab’s product candidates and to supplement its internal </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:301.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">pipeline. Genmab seeks collaborations that will allow Genmab to retain significant future participation in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">product sales through either profit-sharing or royalties paid on net sales. Below is an overview of certain of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s collaborations that have had, or are expected in the near term to have, a significant impact on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.47pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">financial results.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:353.47pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Janssen (Daratumumab/</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:158.66pt;position:var(--position);text-decoration:none;white-space:pre">DARZALEX</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:215.79999999999998pt;position:var(--position);text-decoration:none;white-space:pre">)</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:366.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In 2012, Genmab entered into a global license, development and commercialization agreement with J&amp;J </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:377.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">for daratumumab, marketed for the treatment of certain multiple myeloma indications as DARZALEX for IV </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:388.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">administration and as DARZALEX </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:italic;font-weight:normal;left:159.38pt;position:var(--position);text-decoration:none;white-space:pre">FASPRO</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:192.23999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> in the US and DARZALEX SC in Europe for SC administration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:399.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">(“Janssen Collaboration and License Agreement”). Under the Janssen Collaboration and License </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:410.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Agreement, J&amp;J is fully responsible for developing and commercializing daratumumab, and all costs </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:421.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">associated therewith. Genmab receives tiered royalty payments between </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:296.14000000000004pt;position:var(--position);text-decoration:none;white-space:pre">12%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:312.13pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:329.89000000000004pt;position:var(--position);text-decoration:none;white-space:pre">20%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:345.88pt;position:var(--position);text-decoration:none;white-space:pre"> based on J&amp;J’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">annual net product sales with J&amp;J reducing such royalty payments for Genmab’s share of J&amp;J’s royalty </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:443.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">payments made to Halozyme. In addition, the royalties payable by J&amp;J are limited in time and subject </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:454.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to reduction on a country-by-country basis for customary reduction events, including for lack of Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:465.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">patent coverage or upon patent expiration or invalidation in the relevant country and upon the first </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:476.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">commercial sale of a biosimilar product in the relevant country (for as long as the biosimilar product </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:487.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">remains for sale in that country). Pursuant to the terms of the Janssen Collaboration and License </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:498.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Agreement, J&amp;J’s obligation to pay royalties to us will expire on a country-by-country basis on the later </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:509.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of the date that is </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:100.34pt;position:var(--position);text-decoration:none;white-space:pre">13 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:130.98pt;position:var(--position);text-decoration:none;white-space:pre"> after the first commercial sale of daratumumab in such country or upon the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:520.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">expiration or invalidation of the last-to-expire relevant Genmab patent covering daratumumab in such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:531.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">country. The first US, European and Japanese sales of daratumumab occurred in 2015, 2016 and 2017, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:542.07pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">respectively. We have issued patents and pending patent applications covering daratumumab in numerous </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">jurisdictions, including patents issued in the US, Europe and Japan. J&amp;J owns a separate patent portfolio </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">related to the subcutaneous formulation of daratumumab used in DARZALEX </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:italic;font-weight:normal;left:701.77pt;position:var(--position);text-decoration:none;white-space:pre">FASPRO</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:734.63pt;position:var(--position);text-decoration:none;white-space:pre">/DARZALEX SC, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">but a binding arbitration determined that we are not entitled to royalties based on these separate patents. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Our issued U.S., European and Japanese patents covering daratumumab, after giving effect to issued </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">U.S., European and Japanese patent term extensions and supplementary protection certificates, expire in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">2029, 2031 and begin to expire in 2030, respectively. Assuming constant underlying sales of DARZALEX, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">we expect that our royalties from sales of DARZALEX will begin to decline materially in 2029 following </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expiration of our U.S. patent rights on daratumumab. Genmab is also eligible to receive certain additional </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">payments in connection with development, regulatory and sales milestones.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In September 2020, Genmab commenced arbitration against J&amp;J with respect to two different provisions of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">our Janssen Collaboration and License Agreement, both relating to royalties payable to Genmab on net </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:244.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">sales of daratumumab (marketed as DARZALEX for IV administration and as DARZALEX </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:italic;font-weight:normal;left:744.8399999999999pt;position:var(--position);text-decoration:none;white-space:pre">FASPRO</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:777.7pt;position:var(--position);text-decoration:none;white-space:pre"> in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:255.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">US and as DARZALEX SC in Europe for SC administration). In April 2022, the arbitral tribunal issued an </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:266.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">award in that arbitration denying both of Genmab’s claims. Genmab did not seek review of the award. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:285.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">On June 9, 2022, Genmab announced the commencement of a second arbitration under the Janssen </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:296.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Collaboration and License Agreement with claims for milestone payments for daratumumab SC of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:307.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:430.95pt;position:var(--position);text-decoration:none;white-space:pre">405 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:469.11pt;position:var(--position);text-decoration:none;white-space:pre"> and a separate </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:526.8299999999999pt;position:var(--position);text-decoration:none;white-space:pre">13</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:535.71pt;position:var(--position);text-decoration:none;white-space:pre">-year</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:553.91pt;position:var(--position);text-decoration:none;white-space:pre"> royalty term for daratumumab SC on a country-by-country basis, from </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:318.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the date of the first commercial sale of daratumumab SC in each such country. This second arbitration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:329.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">followed from the award in the prior arbitration, where the tribunal ruled in favor of Janssen on the question </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:340.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">as to whether Genmab is required to share in Janssen’s royalty payments to Halozyme for its technology </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:351.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">used in the daratumumab SC product. The tribunal based its ruling on the finding that DARZALEX </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:362.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:italic;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">FASPRO</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:459.37pt;position:var(--position);text-decoration:none;white-space:pre"> constitutes a new licensed product under the Janssen Collaboration and License Agreement.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:381.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">On April 21, 2023, the arbitral tribunal dismissed Genmab’s claims regarding the second arbitration, on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:392.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">basis that these claims should have been brought in the first arbitration. One arbitrator dissented Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:403.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">filed a request for review of the award, which was denied on January 23, 2024. As a result, the dismissal of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:414.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab’s claims in the second arbitration is now final.</span></div><div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Novartis (Ofatumumab/Kesimpta)</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:120.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab and GlaxoSmithKline (GSK) entered a co-development and collaboration agreement for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:131.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">ofatumumab (“</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:88.78999999999999pt;position:var(--position);text-decoration:none;white-space:pre">Novartis Agreement</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:164.7pt;position:var(--position);text-decoration:none;white-space:pre">”) in 2006. The full rights to ofatumumab were transferred from GSK to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:142.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Novartis in 2015. Novartis is now fully responsible for the development and commercialization </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:153.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">of ofatumumab in all potential indications, including autoimmune diseases. Genmab is entitled to a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:385.77000000000004pt;position:var(--position);text-decoration:none;white-space:pre">10%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:401.76000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:164.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">royalty payment on net sales for non-cancer treatments. Genmab pays a royalty to Medarex based on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:175.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Kesimpta net sales. Novartis’s obligation to pay royalties to Genmab under the Novartis Agreement expires </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:186.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">on a country-by-country basis only in the event Novartis is no longer selling such product in a given </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:197.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">country. The royalties are on a country‑by‑country basis subject to reduction in case of significant </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:208.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">competition by competing products (as defined in the Novartis Agreement) or a joint committee </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:219.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">determination that a license of intellectual property owned by a third-party is necessary </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:230.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">for commercialization. All potential regulatory and sales milestone payments under this agreement </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:241.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">have been achieved and no further milestone payments remain outstanding.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:260.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Roche (Teprotumumab/TEPEZZA)</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:272.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In May 2001, Genmab entered a research collaboration with Roche to develop human antibodies to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:283.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">disease targets identified by Roche (“</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:168.7pt;position:var(--position);text-decoration:none;white-space:pre">Roche Agreement</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:237.06pt;position:var(--position);text-decoration:none;white-space:pre">”). In 2002, this alliance was expanded. Under the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:294.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Roche Agreement, Genmab will receive milestones as well as royalty payments on successful products. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:313.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Teprotumumab was initially developed in collaboration between Genmab and Roche, and later investigated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:324.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">under license from Roche by River Vision Development Corporation and subsequently Horizon </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:335.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Therapeutics for ophthalmic use. The product was approved under the brand name TEPEZZA in 2020 by </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:346.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the FDA for the treatment of TED, in 2024 by Japan's MHLW for the treatment of active or high clinical </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:357.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">activity score (CAS) TED and in 2025 by the European Commission for treating moderate-to-severe TED. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:368.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In October 2023, Amgen completed its acquisition of Horizon Therapeutics, including all rights to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:379.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development and commercialization of teprotumumab. Under the terms of the Roche Agreement, Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:390.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">receives a mid-single digit royalty on net sales of TEPEZZA, on a country-by-country basis, for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:371.90000000000003pt;position:var(--position);text-decoration:none;white-space:pre">10 years</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:402.54pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:401.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">following the first commercial sale in such country.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:420.92pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Pfizer (Tisotumab vedotin/Tivdak)</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:433.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In September 2010, Genmab and Pfizer entered into an ADC collaboration, and a commercial license and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:444.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">collaboration agreement (the “Pfizer License and Collaboration Agreement”) was executed in October </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2011. In October 2020, Genmab and Pfizer entered into a joint commercialization agreement (“Tivdak Joint </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:466.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Commercialization Agreement”) where Genmab would co-promote tisotumab vedotin, marketed as Tivdak, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:477.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in the US, and lead commercial operational activities and record sales in Japan, while Pfizer would lead </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:488.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">operational commercial activities in the US, Europe and China with a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:281.44pt;position:var(--position);text-decoration:none;white-space:pre">50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:290.32pt;position:var(--position);text-decoration:none;white-space:pre">:50 profit split in those markets. In </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:499.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">all other markets, if any, Pfizer would be responsible for commercializing tisotumab vedotin and Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:510.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">would receive royalties based on a percentage of aggregate net sales ranging from the mid-teens to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:521.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">mid-twenties. Effective January 1, 2025, Genmab and Pfizer agreed to amend the Pfizer License and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:532.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Collaboration Agreement and the Tivdak Joint Commercialization Agreement, assigning Genmab sole </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:543.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">responsibility for the development and commercialization of Tivdak for second line plus recurrent or </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">metastatic cervical cancer in Europe and all other regions globally, excluding the United States and China. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">With this amendment, Genmab will continue to co-promote Tivdak with Pfizer in the US and will record </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">sales for Europe, Japan and rest of world markets (excluding the United States and China), once </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">commercialized, and will provide royalties to Pfizer on net sales in the low teens. Pfizer will continue to lead </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">commercialization activities in China, when approved. The companies will continue the practice of joint </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">decision-making on the worldwide development and commercialization strategy for tisotumab vedotin. </span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">AbbVie (Epcoritamab/EPKINLY/TEPKINLY)</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:194.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">On June 10, 2020, Genmab entered into a broad oncology collaboration agreement with AbbVie </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:205.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">(“</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:431.83pt;position:var(--position);text-decoration:none;white-space:pre">AbbVie Collaboration and License Agreement</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:605.38pt;position:var(--position);text-decoration:none;white-space:pre">”) to jointly develop and commercialize products </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:216.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">including epcoritamab, and subsequently into a discovery research collaboration for up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:743.49pt;position:var(--position);text-decoration:none;white-space:pre">four</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:757.25pt;position:var(--position);text-decoration:none;white-space:pre"> future </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:227.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">differentiated antibody therapeutics for cancer. The companies will share commercial responsibilities for </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:238.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">epcoritamab in the US and Japan, with AbbVie responsible for further global commercialization. Genmab is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:249.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the principal for net sales in the US and Japan and receives tiered royalties between </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:726.1700000000001pt;position:var(--position);text-decoration:none;white-space:pre">22%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:742.16pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:759.9200000000001pt;position:var(--position);text-decoration:none;white-space:pre">26%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:775.91pt;position:var(--position);text-decoration:none;white-space:pre"> on </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:260.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">remaining net sales outside of these territories, subject to certain royalty reductions. For any product </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:271.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">candidates developed as a result of the companies’ discovery research collaboration, Genmab and AbbVie </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:282.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">will share responsibilities for global development and commercialization in the US and Japan. Genmab </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:293.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">retains the right to co-commercialize these products, along with AbbVie, outside of the US and Japan. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:312.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Under the terms of the AbbVie Collaboration and License Agreement, Genmab received a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:745.14pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:749.5799999999999pt;position:var(--position);text-decoration:none;white-space:pre">750 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:787.74pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:323.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">upfront payment in June 2020 and was initially entitled to receive an aggregate of up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:735.49pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:739.9300000000001pt;position:var(--position);text-decoration:none;white-space:pre">3.15 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:778.0899999999999pt;position:var(--position);text-decoration:none;white-space:pre"> in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:334.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">additional development, regulatory and sales milestone payments for all programs. Included in these </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:345.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">potential milestones were up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:538.8199999999999pt;position:var(--position);text-decoration:none;white-space:pre">$1.15 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:581.42pt;position:var(--position);text-decoration:none;white-space:pre"> in payments related to clinical development and commercial </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:356.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">success across the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:496.69pt;position:var(--position);text-decoration:none;white-space:pre">three</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:514.89pt;position:var(--position);text-decoration:none;white-space:pre"> bispecific antibody programs originally included in the AbbVie Collaboration and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:367.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">License Agreement. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:386.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">As of December 31, 2025, as a result of epcoritamab and one additional antibody product candidate being </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:397.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the remaining bispecific antibody programs under the original AbbVie Collaboration and License </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:408.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Agreement, we are instead contractually entitled to receive an aggregate of up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:714.19pt;position:var(--position);text-decoration:none;white-space:pre">$1.06 billion</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:756.79pt;position:var(--position);text-decoration:none;white-space:pre"> in additional </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:419.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">development, regulatory and sales milestone payments. In addition, and also included in these potential </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:430.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">milestones, if the remaining next-generation antibody product candidate is developed as a result of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:441.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">discovery research collaboration and is successful, we are eligible to receive up to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:718.63pt;position:var(--position);text-decoration:none;white-space:pre">$510 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:761.23pt;position:var(--position);text-decoration:none;white-space:pre"> in option </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:452.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">exercise and success-based milestones. </span></div></div><div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In May 2023, epcoritamab received initial approval from the FDA and is marketed under the tradename </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">EPKINLY. In September 2023, epcoritamab received initial approval from the EC and the Japan MHLW </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and is marketed under the tradenames TEPKINLY and EPKINLY, respectively. Genmab is entitled to tiered </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">royalties between </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:101.22pt;position:var(--position);text-decoration:none;white-space:pre">22%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:117.21000000000001pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:134.97pt;position:var(--position);text-decoration:none;white-space:pre">26%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:150.96pt;position:var(--position);text-decoration:none;white-space:pre"> on net sales for epcoritamab outside the US and Japan. Except for these </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">royalty-bearing sales, Genmab will share with AbbVie profits from the sale of licensed products on a </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:390.53000000000003pt;position:var(--position);text-decoration:none;white-space:pre">50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:399.41pt;position:var(--position);text-decoration:none;white-space:pre">:50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:410.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:162.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">basis. Genmab and AbbVie split </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:152.15pt;position:var(--position);text-decoration:none;white-space:pre">50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:161.03pt;position:var(--position);text-decoration:none;white-space:pre">:50</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:172.13pt;position:var(--position);text-decoration:none;white-space:pre"> th</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:181.01pt;position:var(--position);text-decoration:none;white-space:pre">e development costs related to epcoritamab, while Genmab will </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:173.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">be responsible for </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:102.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre">100%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:122.97999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> of the costs of the discovery research programs up to opt-in.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total transaction price of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:139.84pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:144.28pt;position:var(--position);text-decoration:none;white-space:pre">750 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:182.44pt;position:var(--position);text-decoration:none;white-space:pre"> was allocated to the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:257.47pt;position:var(--position);text-decoration:none;white-space:pre">four</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:271.23pt;position:var(--position);text-decoration:none;white-space:pre"> performance obligations based on the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">best estimate of relative stand-alone selling prices. The allocation of the transaction price to the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">performance obligations is summarized below: </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Delivery of licenses for the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:142.66pt;position:var(--position);text-decoration:none;white-space:pre">three</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:160.86pt;position:var(--position);text-decoration:none;white-space:pre"> programs: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:201.26000000000002pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:205.70000000000002pt;position:var(--position);text-decoration:none;white-space:pre">672 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:243.86pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:248.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">•</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:46.77pt;position:var(--position);text-decoration:none;white-space:pre">Co-development activities for the product concepts: </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:230.58pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:235.02pt;position:var(--position);text-decoration:none;white-space:pre">78 million</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:267.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">For the license grants, Genmab based the stand-alone selling price on a discounted cash flow approach </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:278.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">and considered several factors including, but not limited to, discount rate, development timeline, regulatory </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:289.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">risks, estimated market demand and future revenue potential. For co-development activities related to up </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:300.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">to </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:45.730000000000004pt;position:var(--position);text-decoration:none;white-space:pre">four</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:59.49pt;position:var(--position);text-decoration:none;white-space:pre"> product concepts, a cost-plus margin approach was utilized. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The performance obligations related to the delivery of licenses were completed at a point in time </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:330.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">(June 2020) and Genmab recognized </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:171.38pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:175.82pt;position:var(--position);text-decoration:none;white-space:pre">672 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:213.98pt;position:var(--position);text-decoration:none;white-space:pre"> as license fee revenue in June 2020. After delivery of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:341.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the licenses, Genmab shares further development and commercial costs equally with AbbVie. AbbVie is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:352.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">not assessed as a customer but as a collaboration partner, and as such this part of the collaboration is not </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:363.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">in scope of IFRS 15.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:382.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">3.7</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1"> for information pertaining to the remaining performance obligation related to co-</a></span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:392.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1">development activities for the product concepts.</a></span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:409.92pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">BioNTech </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:422.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In May 2015, Genmab entered into an agreement with BioNTech to jointly research, develop and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:433.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">commercialize bispecific antibody products using Genmab’s DuoBody technology platform (“</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:362.58000000000004pt;position:var(--position);text-decoration:none;white-space:pre">BioNTech </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:444.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Agreement</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:78.58pt;position:var(--position);text-decoration:none;white-space:pre">”). Under the terms of the BioNTech Agreement, BioNTech will provide proprietary antibodies </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:455.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">against key immunomodulatory targets, while Genmab provides proprietary antibodies and access to its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:466.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">DuoBody technology platform. Genmab paid an upfront fee of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:256.62pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:261.06pt;position:var(--position);text-decoration:none;white-space:pre">10 million</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:294.78000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> to BioNTech and an additional </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:477.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">fee as certain BioNTech assets were selected for further development. If the companies jointly select any </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:488.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">product candidates for clinical development, development costs and product ownership will be shared </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:499.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">equally going forward. If one of the companies does not wish to move a product candidate forward, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:510.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">the other company is entitled to continue developing the product on predetermined licensing terms. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:521.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The BioNTech Agreement also includes provisions which will allow the parties to opt out of joint </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:532.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development at key points. During July 2022, Genmab and BioNTech expanded this collaboration </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to include the joint research, development and commercialization of monospecific antibody candidates </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">using Genmab’s HexaBody technology platform.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:137.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab and BioNTech have </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:530.86pt;position:var(--position);text-decoration:none;white-space:pre">one</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:544.18pt;position:var(--position);text-decoration:none;white-space:pre"> investigational medicine currently in active clinical development: </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:148.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">DuoBody-EpCAMx4-1BB (GEN1059/BNT314). In August 2024, BioNTech opted not to participate in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:159.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">further development of the acasunlimab (GEN1046) program under the parties’ existing License and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Collaboration Agreement for reasons related to BioNTech’s portfolio strategy. Genmab assumed sole </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">responsibility for the continued development and potential commercialization of acasunlimab. In the fourth </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">quarter of 2025, Genmab announced the discontinuation of further clinical development for acasunlimab. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">This decision was made as part of Genmab’s strategic focus on the most value‑creating opportunities in its </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:214.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">late‑stage portfolio and following a thorough assessment of the evolving competitive landscape. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:233.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:457.14pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_943" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:477.11pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:488.21pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1"> for information pertaining to i</a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:591.62pt;position:var(--position);text-decoration:none;white-space:pre">mpairment loss associated with the discontinuation of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:243.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">GEN1046.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:260.92pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Janssen (DuoBody)</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:273.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In July 2012, and as amended in December 2013, Genmab entered into a collaboration with J&amp;J to create </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:284.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and develop bispecific antibodies using our DuoBody technology platform.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:303.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:446.94pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:517.09pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:521.53pt;position:var(--position);text-decoration:none;white-space:pre">three</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:539.73pt;position:var(--position);text-decoration:none;white-space:pre"> DuoBody-based products created under this collaboration were in </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:314.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">active clinical development and had been approved by regulatory authorities: RYBREVANT, and an </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:325.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">SC formulation, RYBREVANT </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:italic;font-weight:normal;left:533.96pt;position:var(--position);text-decoration:none;white-space:pre">FASPRO</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:566.8199999999999pt;position:var(--position);text-decoration:none;white-space:pre">, TECVAYLI and TALVEY. Under our DuoBody Agreement with J&amp;J, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:336.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab is eligible to receive milestones and receives royalties between </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:683.55pt;position:var(--position);text-decoration:none;white-space:pre">8%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:695.0999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:712.86pt;position:var(--position);text-decoration:none;white-space:pre">10%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:728.8499999999999pt;position:var(--position);text-decoration:none;white-space:pre"> on net sales of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:347.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">RYBREVANT, with J&amp;J reducing such royalty payments for Genmab’s share of J&amp;J’s royalty payments </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:358.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">made to Halozyme, a mid-single digit royalty on net sales of TECVAYLI, and a mid-single digit royalty </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:369.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">on net sales of TALVEY, all of which are subject to a reduction of such royalty payment in countries and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:380.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">territories where there are no relevant patents (as defined in the DuoBody Agreement), among other </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:391.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">reductions. Pursuant to the terms of the DuoBody Agreement, J&amp;J’s obligation to pay these royalties will </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:402.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expire on a country-by-country and licensed product-by-licensed product basis on the later of the date that </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:413.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">is 10 years after the first sale of each licensed product in such country or upon the expiration of the last-to-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:424.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">expire relevant patent (as defined in the DuoBody Agreement) covering the licensed product in such </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:435.52pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">country. Genmab pays a royalty to Medarex based on RYBREVANT net sales.</span></div><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:454.52pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Gilead</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">In March 2024, prior to its acquisition by Genmab, Merus entered into a collaboration, option and license </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">agreement with Gilead (Gilead Collaboration Agreement) to research and develop trispecific T-cell </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:489.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">engaging antibody product candidates using Merus’ technology platform. Under the terms of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:500.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">agreement, the collaboration included </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:561.9pt;position:var(--position);text-decoration:none;white-space:pre">two</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:574.3299999999999pt;position:var(--position);text-decoration:none;white-space:pre"> preclinical research programs, with an option for Gilead to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:511.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">include a third program.</span></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Under the Gilead Collaboration Agreement, Merus granted Gilead a non-exclusive license and agreed to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:118.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">perform related research and collaboration activities during the research term. On a program-by-program </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:129.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">basis, Gilead was granted an exclusive option to obtain an exclusive license for further development and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:140.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">commercialization of products arising from each program. At the acquisition date, no exclusive license </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:151.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">options had been exercised by Gilead.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:170.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Under the Gilead Collaboration Agreement, Merus received a non-refundable upfront payment and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:181.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab is eligible to receive additional consideration in the form of option exercise payments, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:192.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">development and commercialization milestone payments, and tiered royalties bet</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:322.75pt;position:var(--position);text-decoration:none;white-space:pre">ween </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:344.06pt;position:var(--position);text-decoration:none;white-space:pre">5%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:355.61pt;position:var(--position);text-decoration:none;white-space:pre"> and </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:373.37pt;position:var(--position);text-decoration:none;white-space:pre">11%</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:388.77000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> on </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:402.09000000000003pt;position:var(--position);text-decoration:none;white-space:pre">net </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:203.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">sales of any products successfully commercialized under the Gilead Collaboration Agreement.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:222.72pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1">Refer to </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:67.48pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1">Note </a></span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:87.45pt;position:var(--position);text-decoration:none;white-space:pre">3.7</span><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:98.55000000000001pt;position:var(--position);text-decoration:none;white-space:pre"><a href="#i2bb6a79790b14d1ea1896178e93499b7_1480" style="color:inherit;text-decoration:inherit;z-index:1"> for information pertaining to the remaining performance obligation.</a></span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">5.7 - Contingencies</span><div style="font-size:12pt;line-height:10.5pt;position:var(--position);top:259.32pt;width:841.68pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Legal Contingency</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:271.92pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Chugai Patent Infringement Complaint</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:283.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">In 2024, Chugai filed a lawsuit in the Tokyo District Court in Japan against AbbVie’s and Genmab’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:294.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Japanese subsidiaries asserting that their activities with EPKINLY (epcoritamab) in Japan infringe </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:382.83000000000004pt;position:var(--position);text-decoration:none;white-space:pre">two</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:395.26000000000005pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:305.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Japanese patents held by Chugai claiming damages and injunctive relief. In September 2025, Chugai filed </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:316.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">two</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.28pt;position:var(--position);text-decoration:none;white-space:pre"> further lawsuits in the same court, against the same parties and with similar assertions, based on </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:395.56pt;position:var(--position);text-decoration:none;white-space:pre">two</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:407.99pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:327.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">newly granted Japanese patents held by Chugai which are similar to the patents from the original lawsuit.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:346.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Genmab and AbbVie believe that the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:169.01999999999998pt;position:var(--position);text-decoration:none;white-space:pre">four</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:182.78pt;position:var(--position);text-decoration:none;white-space:pre"> Japanese patents are invalid and not infringed and intend to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:357.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">vigorously defend against the lawsuit, and thus </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:204.67pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:213.54999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> provision has been recognized related to this matter.</span></div><div style="font-size:12pt;line-height:9.5pt;position:var(--position);top:107.72pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">AbbVie Rina-S Trade Secret Complaint</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:119.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">During the first quarter of 2025, AbbVie filed a complaint in the U.S. District Court for the Western District of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:130.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Washington (Seattle) naming Genmab A/S; ProfoundBio US Co.; ProfoundBio (Suzhou) Co., Ltd.; and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">former AbbVie employees as defendants. AbbVie alleges that the defendants have misappropriated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">AbbVie’s alleged trade secrets relating to the use of disaccharides to improve the hydrophilicity of drug-</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">linkers in ADCs in connection with Rina-S and other ADC pipeline products of ProfoundBio. AbbVie is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">seeking damages and broad injunctive relief. AbbVie is not asserting or enforcing any patent rights against </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the defendants, and to Genmab’s knowledge, AbbVie has not pursued any development of products </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">incorporating their alleged trade secrets. During the fourth quarter of 2025, AbbVie filed a complaint with </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:207.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">the U.S. International Trade Commission (ITC) under Section 337 of the Tariff Act against ProfoundBio US </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Co.; ProfoundBio (Suzhou) Co., Ltd.; Genmab A/S; Genmab B.V.; and Genmab US, Inc., seeking to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">exclude certain antibody drug conjugate products from importation into the United States. The district court </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:240.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">action has since been stayed. The ITC complaint is based on allegations that are substantially similar to </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:251.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">those asserted in the Washington district court action.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab categorically refutes these allegations and will vigorously defend the Company against AbbVie’s </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">claims, and thus </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:486.45pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:495.33pt;position:var(--position);text-decoration:none;white-space:pre"> provision has been recorded related to this matter.</span></div><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:12pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">5.8 - Subsequent Events</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:319.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">No events have occurred subsequent to the balance sheet date that could significantly affect the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:330.12pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">consolidated financial statements as of </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:565.92pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:636.0699999999999pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div> <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total remuneration of the Board of Directors and Executive Management is as follows:</span><div style="position:var(--position);top:245.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Wages and salaries</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">16</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">15</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">10</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Share-based compensation expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">30</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">23</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">15</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Defined contribution plans</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:64.93pt;position:var(--position);text-decoration:none;white-space:pre">1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:61.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">47</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">39</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:47.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:60.49pt;position:var(--position);text-decoration:none;white-space:pre">25</span></div></div></div></td></tr></tbody></table></div></div></div> 16000000 15000000 10000000 30000000 23000000 15000000 1000000 1000000 0 47000000 39000000 25000000 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Remuneration To The Board Of Directors</span><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:128.25pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:51.75pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:49.3pt;position:var(--position);text-decoration:none;white-space:pre">Base Board Fee</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">Committee </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:69.08pt;position:var(--position);text-decoration:none;white-space:pre">Fees</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:9.1pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation Expenses</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);width:155.25pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:155.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:68.67pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:20.25pt;width:51.75pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.44pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Deirdre P. Connelly</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:31.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Pernille Erenbjerg</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Anders Gersel Pedersen</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:55.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Paolo Paoletti</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:67.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Rolf Hoffmann</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:79.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Elizabeth O’Farrell</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:91.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Mijke Zachariasse</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:64.96pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:103.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Martin Schultz</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:51.56pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:115.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:127.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Takahiro Hamatani</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:67.17999999999999pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:127.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Michael Kavanagh</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:66.42pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:139.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:41.12pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:151.5pt;width:128.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:128.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:128.25pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:180pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:231.75pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:289.5pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:341.25pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:393pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:450.75pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.9</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:502.5pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">1.2</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:554.25pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:612pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:663.75pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">2.7</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:715.5pt;position:var(--position);top:151.5pt;width:51.75pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:51.75pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:38.02pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:296.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Employee elected board members were elected at the Annual General Meeting in March 2025.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:305.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Takahiro Hamatani was replaced by Michael Kavanagh as an </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:236.60999999999999pt;position:var(--position);text-decoration:none;white-space:pre">employee elected board members at the Annual General Meeting in March 2025.</span></div> 200000 200000 200000 100000 100000 100000 300000 200000 200000 600000 500000 500000 100000 100000 100000 100000 100000 100000 200000 200000 100000 400000 400000 300000 100000 100000 100000 100000 100000 100000 200000 100000 100000 400000 300000 300000 100000 100000 100000 0 0 0 200000 100000 100000 300000 200000 200000 100000 100000 100000 100000 100000 0 200000 100000 100000 400000 300000 200000 100000 100000 100000 100000 100000 0 200000 200000 100000 400000 400000 200000 100000 100000 100000 0 0 0 200000 100000 100000 300000 200000 200000 100000 100000 100000 0 0 0 200000 100000 0 300000 200000 100000 0 100000 100000 0 0 0 100000 100000 0 100000 200000 100000 100000 0 0 0 0 0 100000 0 0 200000 0 0 1000000.0 1000000.0 1000000.0 500000 500000 300000 1900000 1200000 800000 3400000 2700000 2100000 <span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:10.5pt;font-style:normal;font-weight:bold;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">Remuneration To The Executive Management</span><div style="position:var(--position);top:120.32pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:767.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:89.25pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:6pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td><td style="padding:0;width:36pt"></td></tr><tr style="height:20.25pt"><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:32.75pt;position:var(--position);text-decoration:none;white-space:pre">Base Salary</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:5.71pt;position:var(--position);text-decoration:none;white-space:pre">Defined Contribution Plans</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:28.19pt;position:var(--position);text-decoration:none;white-space:pre">Other Benefits</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.39pt;position:var(--position);text-decoration:none;white-space:pre">Annual Cash Bonus</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:4.02pt;position:var(--position);text-decoration:none;white-space:pre">Share-Based Compensation </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.49pt;position:var(--position);text-decoration:none;white-space:pre">Expenses</span></div></div></div></td><td style="border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);width:108pt"><div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:108pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:45.05pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:20.25pt;width:36pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:16.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:31.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Jan van de Winkel</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.4</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">7.4</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.0</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">10.7</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">7.9</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:31.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">6.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Anthony Pagano</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:43.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.8</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:55.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Anthony Mancini</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:59.88pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">7.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:55.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:67.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Judith Klimovsky</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:67.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:79.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Tahamtan Ahmadi</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.9</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:79.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.9</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:91.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Birgitte Stephensen</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:70.05pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:91.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.4</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:103.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Christopher Cozic</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:64.07pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:103.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.9</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:115.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Martine van Vugt</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:60.800000000000004pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:115.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.3</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:127.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Brad Bailey</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:42.150000000000006pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:127.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Rayne Waller</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:48.84pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.6</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">2.7</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.0</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:139.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:151.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Greg Mueller</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#F3F3F3;border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:151.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:163.5pt;width:89.25pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:89.25pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">6.7</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">6.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:161.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">5.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:203.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.4</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:239.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:275.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:317.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:353.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.1</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:389.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:25.37pt;position:var(--position);text-decoration:none;white-space:pre">—</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:431.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:467.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">4.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:503.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:22.27pt;position:var(--position);text-decoration:none;white-space:pre">3.6</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:545.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">27.9</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:581.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">21.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:617.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">13.6</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:659.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">43.0</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:695.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">34.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:731.25pt;position:var(--position);top:163.5pt;width:36pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:36pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:17.83pt;position:var(--position);text-decoration:none;white-space:pre">22.8</span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:305.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Birgitte Stephensen and Christopher Cozic were appointed Chief Legal Officer and Chief People Officer, respectively, and members of the Executive Management in March 2022. </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:314.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Martine van Vugt was appointed Chief Strategy Officer and member of the Executive Management in March 2023.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:323.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Anthony Mancini stepped down as Executive Vice President and Chief Operating Officer in September 2024. </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:332.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">4.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Brad Bailey and Rayne Waller were appointed Executive Vice President and Chief Commercial Officer, and Executive Vice President and Chief Technical Operations Officer, respectively, and members of the Executive Management in August </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:341.82pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">2024.</span></div> 1500000 1400000 1300000 300000 200000 200000 0 0 0 1500000 1300000 1300000 7400000 5000000.0 3500000 10700000 7900000 6300000 700000 700000 600000 0 0 0 0 0 0 400000 400000 400000 3600000 2400000 1800000 4700000 3500000 2800000 0 400000 700000 0 0 0 0 2400000 0 0 400000 400000 600000 4200000 2000000.0 600000 7400000 3100000 800000 800000 700000 0 0 0 0 0 0 500000 400000 400000 4100000 2800000 2000000.0 5400000 4000000.0 3100000 800000 700000 700000 0 0 0 0 0 0 500000 400000 400000 3900000 2600000 1800000 5200000 3700000 2900000 300000 400000 400000 0 0 0 1700000 0 0 0 200000 200000 2300000 1200000 800000 4300000 1800000 1400000 500000 500000 500000 0 0 0 0 0 0 300000 300000 300000 2600000 1600000 1100000 3400000 2400000 1900000 500000 400000 400000 100000 100000 100000 0 0 0 300000 200000 200000 1500000 800000 600000 2400000 1500000 1300000 600000 600000 0 0 0 0 200000 100000 0 400000 300000 0 900000 600000 0 2100000 1600000 0 700000 200000 0 0 0 0 700000 600000 0 400000 100000 0 900000 100000 0 2700000 1000000.0 0 300000 0 0 0 0 0 900000 0 0 200000 0 0 100000 0 0 1500000 0 0 6700000 6100000 5300000 400000 300000 300000 3500000 3100000 0 4500000 4000000.0 3600000 27900000 21300000 13600000 43000000.0 34800000 22800000 P2Y P1Y P2Y P2Y 19000000 17000000 15000000 608000000 403000000 2700000000 2200000000 <div style="font-size:0pt;left:426.51pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:162pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:11.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2025</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.63pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2023</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:11.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Audit fees</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.7</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.5</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:11.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.9</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:23.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Audit-related fees</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:23.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">0.5</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:35.25pt;width:162pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:162pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:162pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">2.5</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:234pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.8</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:35.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:58.27pt;position:var(--position);text-decoration:none;white-space:pre">1.4</span></div></div></div></td></tr></tbody></table></div></div> 1700000 1500000 900000 800000 300000 500000 2500000 1800000 1400000 800000 300000 500000 1 97 8017000000 5500000000 8017000000 <span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total consideration for the acquisition of Merus is summarized as follows:</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:51.47pt;position:var(--position);text-decoration:none;white-space:pre">Total </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.99pt;position:var(--position);text-decoration:none;white-space:pre">Consideration</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash paid for outstanding shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">7,359<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash for equity compensation attributable to pre-modification of equity awards</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:268.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">596<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash paid by Genmab directly attributable acquisition related costs</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:230.76999999999998pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">62<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total consideration</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:207.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes payments made to Merus option holders which were vested prior to the acquistion date, and therefore related </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:216.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">to pre-acquistion service</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:225.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes professional fees related to legal, advisory and due diligence procedures that were directly attributable to the </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:234.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">acquisition of Merus by Genmab</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:253.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The allocation to net identifiable assets is as follows: </span></div><div style="position:var(--position);top:272.97pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.9pt;position:var(--position);text-decoration:none;white-space:pre">Amounts </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.73pt;position:var(--position);text-decoration:none;white-space:pre">Recognized as of </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.25pt;position:var(--position);text-decoration:none;white-space:pre">the Acquisition </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.13pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:38.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">745<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:72.61pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:50.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">52<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:62.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">IPR&amp;D intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">6,927<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:74.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Technology platform intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:74.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">369<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Licenses and patents</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">82<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other non-current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:88.11pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">29<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Non-current contract liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(30)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Current contract liabilities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(21)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other liabilities</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:52.95pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(136)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">  Total identifiable net assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">8,017<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:444.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes current receivables, marketable securities and prepaid expenses</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:453.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes right-of-use assets, property and equipment and other investments</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:279.37pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:462.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes other current payables (primarily accrued expenses for R&amp;D and personnel costs), current lease liabilities and </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:471.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">non-current lease liabilities</span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The total consideration for the acquisition of ProfoundBio is summarized as follows:</span><div style="position:var(--position);top:126.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:20.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:51.47pt;position:var(--position);text-decoration:none;white-space:pre">Total </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:18.99pt;position:var(--position);text-decoration:none;white-space:pre">Consideration</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:20.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash paid for outstanding shares</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:20.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,718<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:32.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash for equity compensation attributable to pre-combination service</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:32.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">187<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total consideration</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:44.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,905<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash acquired</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:56.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(122)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:68.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash used for acquisition of asset</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:68.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,783<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The purchase price allocation resulted in the following amounts being allocated to the assets acquired and </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:230.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">liabilities assumed at the Acquisition Date based upon their respective fair values summarized below:</span></div><div style="position:var(--position);top:249.97pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000000;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:36.9pt;position:var(--position);text-decoration:none;white-space:pre">Amounts </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:7.73pt;position:var(--position);text-decoration:none;white-space:pre">Recognized as of </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:15.25pt;position:var(--position);text-decoration:none;white-space:pre">the Acquisition </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:53.13pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Cash and cash equivalents</span></div></div></div></td><td style="border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:38.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">122<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:72.61pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">1</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:50.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:62.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Property and equipment</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:62.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">6<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:74.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">IPR&amp;D intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:74.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,540<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Technology platform intangible asset</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:86.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">181<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:98.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other non-current assets</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:88.11pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">2</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:98.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">3<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Deferred tax liability</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:110.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:49.98pt"></span></span><span style="left:52.61pt;position:var(--position)">(292)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:122.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Other current liabilities</span><span style="font-family:'Arial', sans-serif;font-size:5.2pt;font-style:normal;font-weight:normal;left:79.07pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;top:-2.037pt;vertical-align:super;white-space:pre">3</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:122.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:54.42pt"></span></span><span style="left:57.050000000000004pt;position:var(--position)">(13)</span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:134.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total identifiable net assets</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:134.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,551<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:146.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Goodwill</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:146.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:52.64pt"></span></span><span style="left:55.27pt;position:var(--position)">354<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:158.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total consideration</span></div></div></div></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:158.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:45.98pt"></span></span><span style="left:48.61pt;position:var(--position)">1,905<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:431.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes receivables and other investments.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:440.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">2.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes other investments and right-of-use assets.</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:449.22pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">3.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Includes other payables, contract liabilities, lease and other liabilities.</span></div><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">From the Acquisition Date through December 31, 2024, Genmab’s Consolidated Statements of </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:487.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Comprehensive Income include </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:540.61pt;position:var(--position);text-decoration:none;white-space:pre">no</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:549.49pt;position:var(--position);text-decoration:none;white-space:pre"> revenue and the following expenses associated with the acquisition and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:498.32pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">operations of ProfoundBio:</span></div><div style="position:var(--position);top:107.72pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:29.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:306pt"><div><div style="line-height:8pt;position:var(--position);top:20.25pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income (USD million):</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:10.25pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition Date </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:2.75pt;position:var(--position);text-decoration:none;white-space:pre">through December </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:40.19pt;position:var(--position);text-decoration:none;white-space:pre">31, 2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:29.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Research and development expenses</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:29.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">58<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:41.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Selling, general and administrative expenses</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:41.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:61.52pt"></span></span><span style="left:64.15pt;position:var(--position)">4<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:53.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Acquisition and integration related charges¹</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:53.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">27<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:65.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:65.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:bold;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:5.82pt;width:57.08pt"></span></span><span style="left:59.71pt;position:var(--position)">89<span style="display:inline-block;height:5.82pt;width:2.66pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:197.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">1.</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition-related charges incurred from the Acquisition Date through December 31, 2024, are comprised of payments </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:206.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">to holders of outstanding ProfoundBio equity awards related to post-combination services (</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:325.6pt;position:var(--position);text-decoration:none;white-space:pre">$11 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:358.51000000000005pt;position:var(--position);text-decoration:none;white-space:pre">). The remaining </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:215.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">expenses are integration-related charges incurred from the Acquisition Date through December 31, 2024, which are </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:224.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">comprised of professional fees incurred to assist with the integration of ProfoundBio into Genmab’s operations post-</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:233.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">acquisition. Additionally, prior to the Acquisition Date, Genmab recorded </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:268.71000000000004pt;position:var(--position);text-decoration:none;white-space:pre">$16 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:302.13pt;position:var(--position);text-decoration:none;white-space:pre"> in Acquisition and integration-</span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:242.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">related charges in Genmab’s Consolidated Statements of Comprehensive Income related to professional due diligence </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:251.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">procedures in connection with the acquisition of ProfoundBio. The </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:250.45pt;position:var(--position);text-decoration:none;white-space:pre">$16 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:283.87pt;position:var(--position);text-decoration:none;white-space:pre"> of Acquisition- and integration-related </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:260.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">charges incurred prior to the Acquisition Date and the </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:212.1pt;position:var(--position);text-decoration:none;white-space:pre">$27 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:245.51999999999998pt;position:var(--position);text-decoration:none;white-space:pre"> of Acquisition and integration charges incurred from </span></div><div style="font-size:12pt;line-height:7pt;position:var(--position);top:269.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:45.35pt;position:var(--position);text-decoration:none;white-space:pre">the Acquisition Date through December 31, 2024 total </span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:213.26999999999998pt;position:var(--position);text-decoration:none;white-space:pre">$43 million</span><span style="font-family:'Arial', sans-serif;font-size:7pt;font-style:normal;font-weight:normal;left:246.69pt;position:var(--position);text-decoration:none;white-space:pre"> through the fourth quarter of 2024.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:288.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">The following table provides Genmab’s consolidated revenue and net profit for 2024 as if the acquisition of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:299.97pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:36.85pt;position:var(--position);text-decoration:none;white-space:pre">ProfoundBio had occurred on January 1, 2024:</span></div><div style="position:var(--position);top:318.97pt;width:841.68pt"><div style="font-size:0pt;left:36.85pt;position:var(--position);width:378pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:306pt"></td><td style="padding:0;width:72pt"></td></tr><tr style="height:38.25pt"><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:306pt"><div><div style="line-height:8pt;position:var(--position);top:29.25pt;width:306pt"><span style="color:#691a6b;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">(USD million)</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;border-top:2pt solid #691a6b;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);width:72pt"><div><div style="line-height:7.5pt;position:var(--position);top:2.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:19.82pt;position:var(--position);text-decoration:none;white-space:pre">Twelve Month </span></div><div style="line-height:7.5pt;position:var(--position);top:11.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:21.06pt;position:var(--position);text-decoration:none;white-space:pre">Period Ended </span></div><div style="line-height:7.5pt;position:var(--position);top:20.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:20.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, </span></div><div style="line-height:7.5pt;position:var(--position);top:29.72pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:7.5pt;font-style:normal;font-weight:bold;left:52.69pt;position:var(--position);text-decoration:none;white-space:pre">2024</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:38.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Revenue</span></div></div></div></td><td style="border-top:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:38.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">3,121</span></div></div></div></td></tr><tr style="height:12pt"><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:306pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:306pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:2.63pt;letter-spacing:-0.015em;position:var(--position);text-decoration:none;white-space:pre">Net Profit</span></div></div></div></td><td style="border-bottom:0.5pt solid #0d153f;font-size:0;text-align:left;vertical-align:top"><div style="left:306pt;position:var(--position);top:50.25pt;width:72pt"><div><div style="line-height:8pt;position:var(--position);top:3pt;width:72pt"><span style="color:#000000;font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:49.39pt;position:var(--position);text-decoration:none;white-space:pre">1,102</span></div></div></div></td></tr></tbody></table></div></div></div> 7359000000 596000000 62000000 8017000000 745000000 52000000 6927000000 369000000 82000000 29000000 30000000 21000000 136000000 8017000000 185000000 109000000 58000000 18000000 3 1720000000 199000000 199000000 187000000 11000000 1718000000 187000000 1905000000 122000000 1783000000 122000000 4000000 6000000 1540000000 181000000 3000000 292000000 13000000 1551000000 354000000 1905000000 58000000 4000000 27000000 89000000 11000000 16000000 16000000 27000000 43000000 3121000000 1102000000 30000000 <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Business Combinations</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:141.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The acquisition method of accounting is used to account for all acquisitions where the target company </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:152.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">meets the definition of a business in accordance with IFRS 3 (Business Combinations). The purchase price </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:163.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">for a business is comprised of the fair value of the assets transferred and liabilities owned to the former </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:174.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">owners, including option holders, of the acquired business and the fair value of any asset or liability </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:185.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">resulting from a contingent consideration arrangement. Any amount of the purchase price which effectively </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:196.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">comprises a settlement of a pre-existing relationship is not part of the exchange for the acquiree and is </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:207.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">therefore not included in the consideration for the purpose of applying the acquisition method. Settlements </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:218.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of pre-existing relationships are accounted for as separate transactions in accordance with the relevant </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:229.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">IFRS standards. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:248.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Identifiable assets and liabilities and contingent liabilities assumed are measured at fair value on the date </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:259.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">of acquisition by applying relevant valuation methods. Goodwill is recognized as the excess of purchase </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:270.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">price over the fair value of net identifiable assets acquired and liabilities assumed. Acquisition-related </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:281.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">charges are expensed as incurred and included within Acquisition and integration-related charges in the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:292.37pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statements of Comprehensive Income.</span></div> <span style="font-family:'Arial', sans-serif;font-size:9.5pt;font-style:normal;font-weight:bold;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Asset Acquisitions</span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:322.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">The asset acquisition method is applied to account for all transactions that do not meet the definition of a </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:333.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">business in accordance with IFRS 3 Business Combinations.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:352.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Genmab applies a ‘concentration test,’ which is a simplified assessment of whether an acquired set of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:363.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">activities and assets is not a business. The optional concentration test is met if substantially all of the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:374.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:385.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">identifiable assets.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:404.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">At initial recognition, an asset acquisition is measured at cost. Cost comprises the fair value of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:415.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">consideration transferred plus any directly attributable acquisition-related costs. The cost price is allocated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:426.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">to the individual identifiable assets acquired and liabilities assumed based on their relative fair values at the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:437.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">acquisition date. </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:486.44pt;position:var(--position);text-decoration:none;white-space:pre">No goodwill or deferred taxes are recognized.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:456.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Acquisition-related costs that are directly attributable to the acquisition of assets, such as legal, advisory, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:467.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">and due diligence fees, are capitalized as part of the cost of the acquired assets in accordance with the </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:478.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">relevant IFRS standards (for example, IAS 16 Property, Plant and Equipment or IAS 38 Intangible Assets).</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:497.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">Subsequent measurement of these assets follows the requirements of the </span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:689.36pt;position:var(--position);text-decoration:none;white-space:pre">relevant</span><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:717.77pt;position:var(--position);text-decoration:none;white-space:pre"> IFRS standards </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:508.77pt;width:841.68pt"><span style="font-family:'Arial', sans-serif;font-size:8pt;font-style:normal;font-weight:normal;left:426.51pt;position:var(--position);text-decoration:none;white-space:pre">applicable to each asset class.</span></div> 0.12 0.20 P13Y 405000000 P13Y 0.10 P10Y 0.50 4 0.22 0.26 750000000 3150000000 1150000000 3 1060000000.00 510000000 0.22 0.26 0.50 0.50 1 750000000 4 3 672000000 78000000 4 672000000 10000000 1 3 0.08 0.10 2 0.05 0.11 2 2 2 4 0 0 Copenhagen Deloitte 33963556 Genmab changed its presentation currency from DKK to USD effective January 1, 2025. Accordingly, Management has translated the consolidated financial statements and related notes into USD for all periods presented. Additionally, certain reclassifications have been made between financial income and financial expenses for all periods presented. Refer to Note 1.1 and Note 1.4, respectively, for more information. Genmab changed its presentation currency from DKK to USD effective January 1, 2025. Accordingly, Management has translated the consolidated financial statements and related notes into USD for all periods presented. Refer to Note 1.1 for more information. Genmab changed its presentation currency from DKK to USD effective January 1, 2025. Accordingly, Management has translated the consolidated financial statements and related notes into USD for all periods presented. Additionally, certain reclassifications have been made between financial income and financial expenses for all periods presented. Refer to Note 1.1 and Note 1.4, respectively, for more information. Genmab changed its presentation currency from DKK to USD effective January 1, 2025. Accordingly, Management has translated the consolidated financial statements and related notes into USD for all periods presented. Refer to Note 1.1 and Note 1.4 for more information.