Arla Foods Consolidated Annual Report 2021

100 Arla Foods Consolidated Annual Report 2021 / Consolidated Financial Statements / Notes Funding 4.3 NET INTEREST-BEARING DEBT Contents III Table 4.3.b Borrowings (EURM) Long-term borrowings Issued bonds 440 299 Mortgage credit institutions 1,021 1,033 2021 2020 Table 4.3.c Cash flow, net interest-bearing debt (EURM) Cash flow Non-cash changes Foreign 1 January Included in financing activities exchange move- Additions Reclasses ments Fair value 31 changes December Bank borrowings 478 455 2021 Lease liabilities 174 177 Pension liabilities 247 -14 -4 16 245 Total long-term borrowings 2,113 1,964 Long-term borrowings 1,964 46 62 24 17 2,113 Short-term borrowings 766 -48 -62 -12 644 Short-term borrowings Total interest-bearing debt 2,977 -62 46 8 33 3,002 Issued bonds 100 Commercial papers Mortgage credit institutions Bank borrowings Lease liabilities Other current liabilities 102 - UK pension assets 11 9 Securities and other 456 531 interest-bearing assets 59 56 Cash 16 70 Net interest-bearing debt -17 16 4 -1 -424 -12 -3 -439 -126 32 -3 -97 2,427 -59 46 16 6 32 2,466 644 766 Total short-term borrowings Total interest-bearing borrowings 2,757 2,730 Long- and short-term borrowings payments of EUR-48 million (EUR 0 million and EUR -48 million, respectively) can be reconciled to the cash flow statement as new loans obtained (EUR 172 million), other changes in loans (EUR-147 million) and lease payments (EUR-73 million). 2020 Pension liabilities 249 -10 Long-term borrowings 1,951 70 -84 Short-term borrowings 789 -90 84 -17 Total interest-bearing debt 2,989 -100 70 -5 UK pension assets -26 25 75752 1 247 22 1,964 - 766 23 2,977 -1 Securities and other interest-bearing assets -440 Cash -187 gཟུ 17 -2 1 -424 50 11 -126 Net interest-bearing debt 2,362 -59 70 25 6 23 2,427 Long- and short-term borrowings payments of EUR 90 million (EUR 0 million and EUR 90 million, respectively) can be reconciled to the cash flow statement as new loans obtained of EUR 149 million, other changes in loans of EUR-173 million and lease payments of EUR -66 million.

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