Monberg & Thorsen A/S : Form of Proxy - or Postal Vote - Annual General Meeting on 6th April 2017

PROXY FORM OR VOTE BY CORRESPONDENCE The Annual General Meeting of Monberg & Thorsen A/S will be held on Thursday 6 April 2017 at 5 p.m. at Radisson Blu Royal Hotel, Hammerichsgade 1, DK-1611 Copenhagen V, Denmark

I, the Undersigned

Name of shareholder:

Address:

Zip code and city:

Custody account no. or VP reference:

hereby grant authority to attend and vote on my behalf or cast a vote by correspondence at the Annual General Meeting of Monberg & Thorsen A/S on Thursday 6 April 2017 at 5 p.m. as set out below:

Please mark the appropriate box (A), (B), (C) or (D): Please note that it is only possible either to grant authority by proxy or to vote by correspondence.
A)		Proxy is given to an identified third person: (name and address of the proxyholder in capital letters)
or
B)		Proxy is given to the Board of Directors (or order) to vote in accordance with the recommendations of the Board of Director as stated in the table below.
or
C)		Proxy is given to the Board of Directors (or order) to vote in accordance with the voting directions given below. Please mark the box "FOR", "AGAINST" or "ABSTAIN" to indicate your directions.
or
D)		The vote by correspondence is given in accordance with the voting directions given below. Please mark the box "FOR", "AGAINST" or "ABSTAIN" to indicate your directions. The vote by correspondence is irrevocable.

Items on the agenda (the full agenda is included in the notice of the meeting)	FOR	AGAINST	ABSTAIN	The Board's recommendation
1. The Board of Directors' report (voting not possible)..................................................				-
2. Presentation of the audited annual report for approval .........................................				FOR
3. Proposed appropriation of the profit or covering of the loss according to the approved annual report. .........................................................................................				FOR
4. Proposals by the Board of Directors
a. Deletion of the authority to increase the share capital in Article 5 of the Articles of Association..............................................................................				FOR
b. Change of bearer shares to registered shares ........................................				FOR
c. Other pro forma updates..........................................................................				FOR
5. Election of members to the Board of Directors
a. Re-election of Christine Thorsen..........................................................				FOR
b. Re-election of Henriette Holmgreen Thorsen.......................................				FOR
c. Election of Anders Heine Jensen .........................................................				FOR
6. Appointment of auditors
a. Re-appointment of Ernst & Young Godkendt Revisionspartnerselskab				FOR
7. Authorisation to the chairman of the meeting.........................................................				FOR

A proxy or a vote by correspondence that has only been dated and signed shall be considered as having been given in accordance with the recommendations of the Board of Directors as they appear in the table above.

The proxy shall apply to all subjects discussed at the Annual General Meeting. If new proposals are presented and put to the vote, including proposals for amendments or candidates not appearing on the agenda, the proxyholder shall vote on your behalf in accordance with his or her own convictions.

The proxy/vote by correspondence applies to the number of shares in the possession of the undersigned on the date of registration, 30 March 2017. The shareholding is calculated on the basis of the entry in the Company's register of shareholders and notifications on ownership that the Company has received, but has not yet entered in the register of shareholders.

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Signature

This form must be lodged with VP Investor Services A/S, Weidekampsgade 14, DK-2300 Copenhagen S, no later than Tuesday 4 April 2017 at

11.59 pm either by e-mail [e-mail] or by returning this form. If you hold a Danish electronic signature, proxies or vote by correspondence may also be granted electronically on the website of VP Investor Services at www.vp.dk/agm or at www.monthor.dk.