Annex 1What proportion constituted sustainability investments?Asset allocationdescribes theproportion ofinvestments inspecific assets.What was the asset allocation?Industriens Pension's average-interest-rate product has been invested with 60% assets allocated to a defensiveportfolio with a relatively low risk and with 40% assets to an offensive portfolio with a relatively high risk. The specificallocation of asset classes in the two portfolios is available here (in Danish):https://www.industrienspension.dk/da/OmIp/Investeringer/AktiverAsset allocation in the investment portfolio:#1 In accordance withE/S characteristics94%Investments100%#1A Sustainable19%#1B Other E/S characteristics75%#2 Other6%#1 In accordance with E/S characteristics covers those of the financial product's investmentsthat are used to achieve the environmental or social characteristics promoted by the financialproduct. This category includes the whole portfolio except derivatives, as all investments in theportfolios are made in accordance with the policy on responsible investment and activeownership and therefore promote environmental or social characteristics.#2 Other includes the remaining investments in the financial product that are neitherconsistent with the environmental or social characteristics nor can be qualified assustainable investments. This category includes derivatives.10
