Bls Capital Fondsmaeglerselskab A/s

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BLS Capital - Kapitalforening DK Equity Asset Manager for Professional Investors Worldwide Our Approach To us, investments are long term and non-speculative. We consider ourselves and our co-investors as long term co-owners of companies. Therefore, we do not consider investments in equities as speculation of whether the stock will rise or fall in the near future, but rather as a process of investing in the long term value that we believe the companies can create for us as shareholders. We do not necessarily invest in the most renowned or popular companies, but merely in the companies that we assess to have a high standard of quality and superior capabilities in long term, sustainable value creation. In this regard, long term is defined by us as “as long as possible”. But how long is that? This time horizon is principally infinite. Yet, we do follow the development of our portfolio companies critically, but we seldom change a portfolio company. However, when this does happen, it is most often based on the finding of another company that we believe will have a more attractive, long term investment potential. About BLS Capital BLS Capital is an asset management company founded in January 2008. The company was established based on the desire to create a boutique asset manager with focus on long term investments in robust, listed companies with the purpose of creating attractive, long term risk-adjusted returns. The driving forces behind BLS Capital are the Portfolio Managers and

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