WHEREAS the Kingdom of Denmark in respect of the Faroe Islands (“Denmark in respect of the Faroe Islands”) invoked Article 287, Article 288(1) and Annex VII to the United Nations Convention on the Law of the Sea (“Convention”) with regard to a dispute over the interpretation and application of Article 63(1) of the Convention concerning the shared stock of Atlanto-Scandian herring, as set out in the Notification and Statement of Claim sent by Denmark in respect of the Faroe Islands to the European Union on 16 August 2013;

WHEREAS in accordance with Article 3 of Annex VII to the Convention, by 9 December 2013, the Arbitral Tribunal composed of Professor Gerhard Hafner, Professor Francisco Orrego Vicuña, Dr. M.C.W. Pinto, Judge Rüdiger Wolfrum and Judge Thomas Mensah (Presiding Arbitrator) was constituted;

WHEREAS the Arbitral Tribunal held a First Organizational Meeting with the Parties at the Peace Palace in The Hague on 15 March 2014 at which the Parties, the Members of the Arbitral Tribunal and the Registrar signed the Terms of Appointment;