Klaus Nyborg serves as the chairman of the board at D/S Norden A/S, United Shipping & Trading A/S and MOSCORD Pte Ltd. Klaus serves as Vice Chairman at DFDS A/S as well as chairman of the investment committee of Maritime Investment Fund I & II. Klaus Nyborg also holds board memberships at Norchem A/S, X-Press Feeders Limited, Singapore and Karen og Poul Hansens Familiefond.

Klaus Nyborg previously served as the Chief Financial Officer at Maersk Line, Asia Region based in Singapore, Maersk Logistics and TORM A/S. Furthermore, Klaus Nyborg also served as the interim Chief Executive Officer at D/S Norden A/S and Chief Executive Officer at Pacific Basin Shipping Limited, Hong Kong.

Klaus Nyborg holds a MSc. in Business & Business Law from Copenhagen Business School and an ADP from London Business School.

Holdings in Bawat: Klaus Nyborg owns 2,038,422 shares and 146.666 warrants (T01). Likewise, Klaus Nyborg owns 3,445,233 shares through his holding company Return ApS.

Independent in relation to:
The Company and its management: Yes
Major shareholders: No

Chairman since 2021

Charlotte Hummer Vad is Head of Back-end Delivery, Customer Engagement at Novozymes A/S. Furthermore she is the founder of CHV Terapi. In addition, she serves on the board of Homarus Holding A/S.

Charlotte Hummer Vad was previously Head of Global Communication Services at Novozymes A/S. Furthermore, she has been employed as Management Consultant at Aarsø Nielsen & Partners A/S and as Research Scientist at Sanford Burnham Prebys Medical Discovery Institute.

Charlotte Hummer Vad holds a Master of Science (MSc) in Chemical Engineering from Technical University of Denmark (DTU) and a Master of Business Administration (MBA) from University of San Diego.

Holdings in Bawat: Charlotte Hummer Vad directly owns 669,999 shares in the Company. Likewise, Charlotte Hummer Vad indirectly owns 7,370,226 shares and 146,666 warrants (T01) through her family-owned holding company Homarus Holding A/S.

Independent in relation to:
The Company and its management: No
Major shareholders: No

Deputy Chairman since 2021

Thomas S. Knudsen is chairman of the board in Eltronic Fueltech A/S and member of the board in Hans Jensen Lubricators A/S, C.C. Jensen A/S, Svanehøj Group A/S, G&O Maritime Group, and The Danish Maritime Group.

Thomas S. Knudsen was previously Managing Director at A/S D/S Orient’s Fond and Senior Vice President, Branch Manager at MAN Diesel & Turbo. He has also served as chairman of the board in Danish Maritime and as board member in Burmeister & Wain Scandinavian Contractor A/S.

Thomas S. Knudsen holds a Ph.D. in Mechanical Engineering from Technical University of Denmark (DTU).

Holdings in Bawat: Thomas S. Knudsen owns no shares or other securities in Bawat.

Independent in relation to:
The Company and its management: Yes
Major shareholders: Yes

Member since 2021

Peter Stokbro is Technical Director at TB Marine Shipmanagement GMBH & Co. KG. In addition, he is a board member at Fartygskonstruktioner AB (FKAB) and Uni-Chartering A/S.

Peter Stokbro previously served as Technical Director at Uni-Tankers A/S Technical Director at Navig8 Limited and Vice President at Eitzen Chemical A/S. He has also held positions at EMS Ship Management A/S, TORM A/S, Herning Shipping A/S, A.P. Møller A/S, DFDS A/S, and Wärtsilä Diesel Service A/S.

Peter Stokbro holds a bachelor’s degree in Marine Engineering from Martec.

Holdings in Bawat: Peter Stokbro owns no shares or other securities in Bawat.

Independent in relation to:
The Company and its management: Yes
Major shareholders: No

Member since 2021

Marcus Hummer was previously COO at Kelvion Project Engineered Solutions GmbH, and COO at GEA Heat Exchangers GmbH. Likewise, Marcus Hummer worked as a Business Developer at Maersk Oil & Gas A/S and served as the Chairman at ATHCO Engineering A/S.

Marcus Hummer holds a MSc in Chemical Engineering from the Technical University of Denmark and a HD II in Finance from Copenhagen Business School.

Other material ongoing assignments: None.

Holdings in Bawat: Marcus Hummer directly owns 357,690 shares and 35,897 warrants (T01). Through his family-owned holding company Homarus Holdings A/S, where Marcus Hummer owns 30%, he indirectly owns another 7,370,226 shares and 146,666 warrants (T01). Furthermore Marcus Hummer holds 606.966 warrants.

John Henriksen was previously CFO at Arriva Denmark A/S and GEA Procomac S.p.A. John Henriksen also served as a Senior Director at GEA Process Engineering A/S.

John Henriksen holds an MSc in Business Administration and Auditing from Copenhagen Business School.

Other material ongoing assignments: None.

Holdings in Bawat: John Henriksen owns 257,691 shares and 35,897 warrants (T01). Furthermore John Henriksen holds 450,690 warrants.