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 STATEMENT BY THE BOARD OF DIRECTORS AND THE EXECUTIVE BOARD Today, the Board of Directors and the Executive Director discussed and approved the annual report of Arla Foods amba for the financial year 2020. The annual report was prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional disclosure requirements in the Danish Financial Statements Act. It is our opinion, that the consolidated financial statements, the parent company financial statements and the environmental, social and governance data give a true and fair view of the group's and the parent company's financial position as at 31 December 2020 and of the results of the group's and the parent company's activities and cash flows for the financial year 1 January to 31 December 2020. In our opinion, management's review of the annual report includes a true and fair view of the developments of the group's and the parent company's financial position, activities, financial matters, results for the year and cash flow, as well as a description of the most significant risks and uncertainties that may affect the group and the parent company. We hereby recommend the annual report for adoption by the Board of Representatives. Aarhus, 10th of February 2021 118 ARLA FOODS ANNUAL REPORT 2020 Peder Tuborgh CEO Peter Giørtz-Carlsen Executive Board Member Jan Toft Nørgaard Chairman Heléne Gunnarson Vice Chairman René Lund Hansen Jonas Carlgren Arthur Fearnall Manfred Graff Jan-Erik Hansson Walter Lausen Bjørn Jepsen Steen Nørgaard Madsen Jørn Kjær Madsen Johnnie Russell Marcel Goffinet Simon Simonsen Inger-Lise Sjöstrom Håkan Gillström Employee representative Ib Bjerglund Nielsen Employee representative Harry Shaw Employee representative

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