FirstFarms A/S : CEO Anders H. Nørgaard turns 50 years

Press release 20 January 2017 FirstFarms A/S CEO Anders H. Nørgaard turns 50 years

Denmark's sole stock exchange listed farming company has in several areas been out in "heavy seas" and storm together with the rest of the industry. The platform as stock exchange listed on OMX in Copenhagen has shown to be an extraordinary good foundation financing to business development and change of ownership among shareholders.

FirstFarms A/S has in periods experienced large price decreases in their primary products, milk and crops, which have been extremely low compared to the production costs.

However, it now appears that the storm is about to be weathered, as the prices have a nice and steady upward trend.

The price of the FirstFarms A/S share has thus increased with approx. 20 percent since the middle of 2016 and just during the last month it has experienced a lift of eight percent.

Helmsman and thereby CEO of FirstFarms A/S has since 2012 been Anders H. Nørgaard. He arrived at a time, where the group also was out in a "storm".

Now, five years later, he is ready to celebrate his 50th birthday on Saturday 28 January. This happens at a point, where FirstFarms A/S is on its way to take some big steps in its further development by entering a large, long-term agreement with AP Pension about a financial cooperation. For a start, this means that AP Pension buys 3,000 hectares and buildings in Eastern Romania.

Furthermore, FirstFarms A/S has entered a conditional agreement about purchase of Dan- Farm Holding A/S. Dan-Farm Holding A/S owns 80 percent of the Hungarian company Dan- Farm Hungary Kft. The remaining 20 percent is owned by the IØ-fund. Thus, in future a pig production in Hungary with 2,200 sows and a yearly production of approx. 75,000 piglets is included in FirstFarms A/S, which already operates a modern agriculture of totally 16,700 hectares of arable land and a top notch dairy herd of 2,500 cows.

But it does not stop here, because FirstFarms A/S has the ambition of further growth and thus becoming one of the most successful actors within primary agriculture in EU.

The driving and daily force behind this development is Anders H. Nørgaard in cooperation with the Board and the other employees in the group.

He has extensive experience from the financial sector and is originally trained as banker in Sparekassen SDS supplemented with a HD and MBA degree from the University of Aarhus. Later he was employed in the Nordea-group 1986-2006 in various consultant- and management positions within larger corporate customers. And before the employment at FirstFarms A/S, he was from 2006-2012 CFO at Eskelund A/S with significant agricultural activities in Denmark and Eastern Europe.

Anders grew up with agriculture in East Jutland and is married to Anne-Mette. They have two adult children, a hunting dog and now live in a new house near Skanderborg, after living on an estate for several years. Spare time is spent on hunting, skiing and also boat and cottage in Klitmøller.

The birthday is celebrated at a reception Thursday 2 February 2017 between 2 pm. and 5 pm., held at the company's address: Majsmarken 1, DK-7190 Billund.

Further information at FirstFarms A/S, CEO Anders H. Nørgaard on [phone]

FirstFarms A/S is Denmark's only stock exchange listed company with activities in the primary agriculture. FirstFarms A/S was listed in December 2006 and has now approximately 2,900 shareholders and a share capital of DKK 48,034,280 kroner. The activities are in agricultural companies and land in Slovakia and Romania. The company operates a total of 16,700 hectares, 2,500 dairy cows and employs 211 employees. In 2015, FirstFarms A/S realised a turnover of DKK

111.8 million, an EBIT result of DKK -14.7 million and a pre-tax result of DKK -22.5 million. In 2016, FirstFarms expects an EBIT result in the level of DKK 0.