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 Funding 4.3 NET INTEREST-BEARING DEBT Table 4.3.f Interest rate risk excluding effect of hedging (EURM) Interest rate Average interest rate Fixed for Carrying amount Interest rate risk Interest rate Average interest rate Fixed for Carrying amount Interest rate risk 2019 2020 Issued bonds: Issued bonds: SEK 500m maturing 31.05.2021 Fixed 1.88% 0-1 years 50 Fair value SEK 500m maturing 31.05.2021 Fixed SEK 750m maturing 03.07.2023 Fixed 1.51% 2-3 years 74 Fair value SEK 750m maturing 03.07.2023 Fixed 1.88% 1.51% 1-2 years 48 Fair value 3-4 years 72 Fair value SEK 750m maturing 03.04.2024 Fixed 1.58% 3-4 years 75 Fair value SEK 750m maturing 03.04.2024 Fixed 1.58% 4-5 years 71 Fair value SEK 500m maturing 31.05.2021 Floating 1.60% 0-1 years 50 Cash flow SEK 500m maturing 31.05.2021 Floating 1.76% 0-1 years 48 Cash flow SEK 750m maturing 03.07.2023 Floating 0.91% 0-1 years 75 Cash flow SEK 750m maturing 03.07.2023 Floating 1.11% 0-1 years 71 Cash flow SEK 750m maturing 03.04.2024 Floating 1.14% 0-1 years 75 Cash flow SEK 750m maturing 03.04.2024 Floating 0.88% 0-1 years 72 Cash flow Commercial papers Fixed 0-1 years 0 Fair value Commercial papers Fixed 0.32% 0-1 years 192 Fair value Total issued bonds 1.40% 399 Total issued bonds 1.04% 574 Mortgages credit institutions: Mortgages credit institutions: Fixed-rate Fixed Floating-rate Floating 0.37% 0.43% 1-2 years 124 Fair value Fixed-rate 0-1 years Total mortgage credit institutions 0.42% 918 1,042 Cash flow Floating-rate Total mortgage credit institutions Fixed 0.82% 1-2 years 78 Fair value Floating 0.56% 0-1 years 879 Cash flow 0.58% 957 Bank borrowings: Bank borrowings: Fixed-rate Fixed Floating-rate Floating Total bank borrowings 0.02% 0.77% 0.46% 0-1 years 404 Fair value Fixed-rate 0-1 years 582 Cash flow Floating-rate 986 Total bank borrowings Fixed -0.39% 0-1 years 431 Fair value Floating 0.79% 0-1 years 552 Cash flow 0.27% 983 Other borrowings: Other borrowings: Lease liabilities Other borrowings Floating Floating 3.38% 0-20 years 233 Cash flow Lease liabilities Fixed 3.16% 0-20 years 213 Cash flow 3.69% 0-1 years 70 Cash flow Other borrowings Floating Total other borrowings 3.45% 303 Total other borrowings 3.59% 3.18% 0-1 years 13 Cash flow 226 103 ARLA FOODS ANNUAL REPORT 2020

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