Corporate Governance/Nominating Committee

Policy on Shareholder Recommendations of Director Candidates

Policy

It is the policy of the Corporate Governance/Nominating Committee (“Committee”) of the Board of Directors of Denmark Bancshares Inc. (“DBI”) to consider director candidates recommended by shareholders who appear to be qualified to serve on DBI's Board of Directors. The Committee may choose not to consider an unsolicited recommendation if no vacancy exists on the Board of Directors and if the Committee does not perceive a need to increase the size of the Board of Directors. In order to avoid the unnecessary use of the Committee's resources, the Committee will consider only those director candidates recommended in accordance with the procedures set forth below.

Procedures

To submit a recommendation of a director candidate to the Committee, a shareholder should submit the following information in writing, addressed to the Chairman of the Corporate Governance/Nominating Committee:

1. The name and address of the person recommended as a director candidate;
2. The qualifications of the person recommended as a director candidate including business experience, familiarity with and participation in local community, integrity, dedication, independence from DBI and other relevant factors;
3. The consent of the person being recommended as a director candidate to be a nominee and to serve as a director if elected;

In order for a director candidate to be considered for nomination at DBI's Annual Meeting of Shareholders, the recommendation must be received by the Chairman no later than November 30th, of the year prior to the Annual Meeting of Shareholders regularly held on the 4 th Tuesday in April.