ITP II GP ApS

The purpose of the Entity is to be the general partner of the IWC Timberland Partners II K/S and in this connection to exercise certain special rights in the limited partnership.

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

The Entity is liable, as general partner, for the liabilities in IWC Timberland Partners II K/S without limit ​and has a joint and several liability.

The Entity participates in a Danish joint taxation arrangement where ITP I GP ApSserves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore secondarily liable for income taxes etc. for the jointly taxed entities, which is limited to the equity interest by which the entity participates in the Group, and also secondarily liable 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.