Corporate Governance

Exiqon A/S is subject to recommendations on corporate governance which are available on the Committee on Corporate Governance's website www.corporategovernance.dk. Reference is made to the Committee on Corporate Governance's recommendations of 8 April 2010 which NASDAQ OMX Copenhagen A/S has also decided to include in its Rules for issuers.

Further information is available in the annual corporate governance statement, cf. Section 107b of the Danish Financial Statement Act covering the financial period 1 January to 31 December 2010 at: www.exiqon.com/investor/corporategovernance/2010.

Supervisory Board

All Board members elected by the Annual General Meeting are up for election each year.

Procedures and guidelines for Exiqon’s management reporting to the Supervisory Board and for the mutual communication between the Supervisory Board and the Management are described in the Board’s rules of procedure which also include a fixed calendar of meetings to ensure that the Supervisory Board observes its duties.

The Supervisory Board of Exiqon A/S must have a sound general commercial understanding of the business and markets in which the company operates to best perform its task, including without limitation, commercial and financial skills, market understanding and entrepreneurship.

Board committees

Exiqon uses board committees, and the Supervisory Board has created two board committees: an audit committee and a compensation committee. The audit committee assists the Supervisory Board in its oversight with the company's annual and interim financial reporting including accounting policies and internal controls. The compensation committee advises the Supervisory Board on remuneration of employees and Executive Management including incentive schemes. Material decisions are always made by all members of the Supervisory Board, and all members of the Supervisory Board are informed of all decisions.