NOTICE 2020 convening the annual Nuuk 25/3 general meeting NOTICE convening the annual general meeting The BANK of Greenland, Limited Liability Company, will hold its Annual General Meeting on Wednesday, 25 March 2020 at 4pm at The BANK of Greenland’s head office in Nuuk, with the following agenda: 1. The Board of Directors’ Report on the Bank’s activities during the past year. 2. PresentationoftheauditedAnnualReportandtheAuditors’ReportforapprovalandnotificationofdischargeoftheBoardofDirectors and Executive Management Board, approval of the remuneration of the Board of Directors, and proposal for a decision on the allocation of profitorcoveroflossesinaccordancewiththeapprovedAnnualReport. 3. Proposal from the Board of Directors for authorisation to acquire the Bank’s shares. TheBoardofDirectorsproposesthattheBankisauthorised,intheperiodupto1March2024andwithin10%ofthesharecapital,to acquiretheBank’ssharesatthelistedpriceapplyingontheacquisitiondate,withadeviationof10%inanupwardordownwarddirection. 4. Proposals from shareholder Kim Pedersen: 1.TheBoardofDirectorsisrequestedtoactuallyuseanyauthorisationtoacquiretheBank’sownshares,foraslongastheprice/netbook valueratioislowerthan1.00.ThisrequiresthatacquisitioncantakeplacewithouttheBankcomingintoconflictwiththecapitalrequire- ments.Untilafurtherdecisionistaken,theBoardofDirectorsisrequestedtoincludeacquiredsharesintheBank’sownportfolio. 2.Beforethenextannualgeneralmeeting,theBoardofDirectorsisrequestedtoestablishcontactwithBankNordik’sBoardofDirectorsinorder toinvestigatewhetherthereisabasisforamergerorothermutuallybindingcooperationbetweenthebanksonanequalfooting. 5. Election to the Board of Directors: PursuanttoArticle13oftheArticlesofAssociation,KristianFrederikLennert,MaliinaBitschAbelsenandPeterAngutinguaqWistoftwill resign.TheBoardofDirectorsproposesthere-electionofKristianFrederikLennert,MaliinaBitschAbelsenandPeterAngutinguaqWistoft. Adescriptionofthecandidates’background,aswellasthecriteriaforrecruitmenttotheBank’sBoardofDirectors,arestatedintheAnnex to item 5 of the agenda. 6. Election of external auditors. TheBoardofDirectorsproposesre-electionofDeloitte,StatsautoriseretRevisionspartnerselskab,inaccordancewiththerecommendation oftheAuditCommittee.TheAuditCommitteehasnotbeeninfluencedbyanythirdpartiesandhasnotbeensubjecttoanyagreementwith athirdpartythatrestrictstheAnnualGeneralMeeting’selectionofspecificauditorsorfirmsofaccountants. 7. Anyotherbusiness. TheBANKofGreenland’sauditedAnnualReport,agendaandthefullproposalsfortheAnnualGeneralMeetingwillbeavailableforinspectionat theBank’sheadoffice,andwillbesenttoanyshareholderthathasmadethisrequesttotheemailaddressprovidedbytheshareholdertotheBank. TheAnnualReportisalsoavailableatwww.banken.gl. Shareholders may - by no later than Friday, 20 March 2020–obtainadmissioncardsandtheagendaviaVPInvestorServicesA/Sbytelephoneat (+45)43588866orviaVPInvestorServicesA/S’websitewww.vp.dk/gforwww.banken.gl.Admissioncardswillbesenttotheshareholder’semail addresswhenthishasbeenregisteredontheInvestorPortal.Theshareholdercanregisteranemailaddressonregistration.Afterregistration,theshare- holderwillreceiveanadmissioncardasaPDF,viaemail.Theadmissioncardcanbeprintedorpresentedonasmartphoneortablet.Iftheshareholder doesnothaveanemailaddress,theadmissioncardcanbesentbyordinarypost.ThematerialcanalsobeobtainedonrequesttotheBank’sheadoffice. Ballot papers are issued on registration for admission to the Annual General Meeting. AttendanceoftheAnnualGeneralMeetingrequiresthatanadmissioncardhasbeenrequestedfromtheheadofficeorviaVPInvestorServicesA/S’ websitewww.vp.dk/gforwww.banken.glbynolaterthanFriday,20March2020. ItmustbenotedthatonlyshareholderswhoseshareswereregisteredbynameintheBank’sshareholderregisternolaterthanpriortotheconvening oftheAnnualGeneralMeeting,orwhowithinthesamedeadlinehavenotifiedanddocumentedtheiracquisitionbynolaterthan18March2020 (registrationdate)willbeentitledtovoteattheAnnualGeneralMeeting. ShareholdersmayvoteinwritingbypostalvoteviaVPInvestorServicesA/S’websitewww.vp.dk/gforwww.banken.gl.Thepostalvoteformcanalsobe downloadedviawww.vp.dk/gf,afterwhichitisprintedandsentbyemailtovpinvestor@vp.dkorbyordinaryposttoVPInvestorServicesA/S,Weide- kampsgade14,DK-2300CopenhagenS.ThepostalvotemustbereceivedbyVPInvestorServicesA/SbynolaterthanTuesday,24March2020at4pm. PowerofattorneymayeitherbegrantedviaVPInvestorServicesA/S’websitewww.vp.dk/gforwww.banken.gl.Thepowerofattorneyformcanalso bedownloadedviawww.vp.dk/gf,[email protected],orbyordinaryposttoVPInvestorServicesA/S,Weidekampsgade14, DK-2300CopenhagenS.ThepowerofattorneymustbereceivedbyVPInvestorServicesA/SbynolaterthanFriday,20March2020,unlessthepower ofattorneyisgrantedonthebasisofadulyissuedadmissioncard. TheBank’snominalsharecapitalisDKK180,000,000,distributedasdenominationsofDKK100.EachshareamountofDKK100entailsonevote at the Bank’s Annual General Meeting. Nuuk,2March2020 BOARDOFDIRECTORS APPENDIX to item 5 of the agenda MembersofTheBANKofGreenland’sBoardofDirectorsareinprinciplerecruitedonthebasisofawishforthememberstocollectivelyrepresent broad-basedfinancialandaccountingknowledge,businessexperienceandin-depthinsightsintoGreenland’seconomicandsocialconditions.New membersoftheBoardofDirectorsarerecruitedonthebasisofthesecriteriaandnotaccordingtoafixedformalprocess. The following candidates are proposed for re-election at the Annual General Meeting on 25 March 2020: Kristian Frederik Lennert,aged63,residentinNuuk MemberoftheBoardsofDirectorsof: INUPLANA/S(Chairman) Directorof: EjendomsselskabetIssortarfikApS ElectedtoTheBANKofGreenland’sBoardofDirectorsforthefirsttimein2003. DoesnotcomplywiththeCommitteeonCorporateGovernance’sdefinitionofindependence. KristianLennertholdsanMScinstructuralengineeringandhasbeenemployedbyINUPLANA/Ssince1984,andin2002-2019asmanagingdirector ofthecompany.KristianLennertalsohasexperiencefrommembershipoftheBoardsofDirectorsofvariousGreenlandiccompanies.Duringhiscareer hehasgainedinsightsintoGreenland’seconomicandsocialconditions,particularlyinthebuildingandconstructionarea. Maliina Bitsch Abelsen,aged44,residentinNuuk MemberoftheBoardsofDirectorsof: VisitGreenland(Chairman) ElectedtoTheBANKofGreenland’sBoardofDirectorsforthefirsttimein2018. ComplieswiththeCommitteeonCorporateGovernance’sdefinitionofindependence. MaliinaAbelsenholdsanMScinsocialsciencesandaMastersinPolicyandAppliedSocialResearch.In2016-2019shewasCCO/CommercialDirector ofAirGreenlandwithresponsibilityfor,amongotherthings,commercialdevelopment,salesandmarketing. From2014to2016MaliinaAbelsenwasDirectorofthe2016ArcticWinterGames.From2015to2017MaliinaAbelsenwasViceChairoftheBoard ofDirectorsofTELEGreenlandA/S.MaliinaAbelsenwasamemberofInatsisartut(theGreenlandParliament)from2009to2014andheldposts inNaalakkersuisut(theGreenlandGovernment),mostrecentlyasNaalakkersuisoq(Minister)forFinancefrom2011to2013.MaliinaAbelsenhas previouslyworkedattheUNHumanRightsCommissioninGenevaandtheForeignAffairsDirectorateinNuuk. Peter Angutinguaq Wistoft,aged55,residentinSkanderborg Directorof: KalaallitAirportsHoldingA/S ElectedtoTheBANKofGreenland’sBoardofDirectorsforthefirsttimein2019. DoesnotcomplywiththeCommitteeonCorporateGovernance’sdefinitionofindependence. PeterWistoftisCEOofKalaallitAirportsHoldingA/S.Heisastate-authorisedpublicaccountantandaformerpartnerinfirmofaccountantsand consultantsDeloitte.PeterWistoftalsoholdsstrategicmanagementqualificationsfromINSEAD. PeterWistofthasservedasauditorandadvisertolargecompanieswithinretailtrade,energysupply,telecomandpostalactivities,constructionand housingadministration,andpublicadministration–includingtheGovernmentofGreenland. PeterWistofthasextensiveexperiencewithincrisismanagement,restructuring,mergers,demergers,prospectusesandIPOs,etc.andhasdeepinsight into accounting and special legislation concerning Greenland. PeterWistofthasalsoinstructedboardsofdirectors,primarilywithincorporategovernance. 3 .