First Arctic ApS

The main activity of the Company is shipping, equity investment and other related activities, however currently the Company is considered to be dormant.

Description of material changes in activities and financesThe result for the year shows a loss of DKK 65,069 against a loss of DKK 514 in prior year. The result for the year is considered unsatisfactory.

No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

The Entity participates in a Danish joint taxation arrangement where Endeavour Invest ApS serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc. for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.