Arla Foods Annual Report 2020

Management Review Our Strategy Our Brands and Commercial Segments Our Responsibility Our Governance Our Performance Review Our Consolidated Financial Statements Our Consolidated Environmental, Social and Governance Data GOVERNANCE FRAMEWORK Arla is a cooperative owned by 9,406 dairy farmers in seven countries. Ensuring that all of our owners are able to raise their voice and seek consensus and representation for their opinions is essential in a trustworthy and successful cooperative. Our owners elect members to the Board of Representatives, which in turn elects the Board of Directors. The company's governance is shared between these elected bodies and the Executive Management Team. Members of the Board of Representa- tives are elected for a period of two years. The democratic process leading up to elections is challenged in the online format, thus the BoR has decided to postpone the 2021 elections to 2022. COOPERATIVE GOVERNANCE OWNERS LOCAL REPRESENTATIVES OUR BOARD AND COUNCILS 38 ARLA FOODS ANNUAL REPORT 2020 CORPORATE GOVERNANCE ㅁㅁㅁ DK SE OWNER NATIONALITIES 9,406 dairy farmers LUX DE BE NL UK HC DISTRICTS REGIONS BOARD OF REPRESENTATIVES 175 owners +12 employee representatives 77 DK members 50 SE members 23 CE members 25 UK members Area council Area council BOARD OF DIRECTORS 15 owners +3 employee representatives + 2 external advisors Area council Area council EXECUTIVE BOARD CEO + CCO EXECUTIVE MANAGEMENT TEAM Executive Board + 5 officers 20,020 EMPLOYEES

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