On June 19th NLB General Meeting among other on distributable profit and four new members to the Supervisory Board

May 10, 2023

Pursuant to Article 130 of the Market in Financial Instruments Act, Article 295 of the Companies Act and Article 11 of the Articles of Association of NLB d.d. the Management Board of NLB d.d. hereby convenes the 40th General Meeting of NLB d.d.

At the 40th General Meeting of NLB d.d., which is going to take place on Monday, June 19th, 2023, at 11 a.m., the shareholders will, among other things, get note of the NLB Group Annual Report for 2022, decide on the allocation of distributable profit from the previous year, and elect four members to the NLB Supervisory Board.

The General Meeting will be held both live in Ljubljana’s Cankarjev dom, with the registration starting at 10:30 a.m., and as an electronic General Meeting without the shareholders being physically present as they can instead attend the meeting via the web portal (i.e., EGM). Registration allowing them to access the digital environment will start at 10 a.m.

At this General Meeting, the shareholders will, among other things, vote on the proposal regarding the allocation of distributable profit for 2022. The NLB Management and Supervisory Boards will propose to shareholders that dividends in the total amount of EUR 55 million, which is EUR 2.75 gross per share, be paid out on June 27, 2023 to persons who are registered as NLB shareholders with the Slovenian Central Securities Clearing Cooperation. This will happen five working days after the day of the General Meeting at which the decision on the distribution of distributable profit is adopted (June 26, 2023).

Please note that this year, NLB is planning to pay out EUR 110 million in dividends in two tranches, the same as in previous years. The first tranche in the aforementioned amount of EUR 55 million will be proposed for payment at this General Meeting, while the second tranche is expected to be submitted for approval at the General Meeting taking place towards the end of this year. The anticipated payment of dividends in the amount of EUR 110 million from the profit generated in 2022 is not included in the capital base, which means that it will not affect the NLB Group’s capital ratios. The remaining part of NLB’s distributable profit remains undistributed and represents retained earnings. The Bank's commitment to meet shareholders' expectations remains firm – NLB is planning to pay out EUR 500 million to the shareholders in the form of dividends between 2022 and 2025.

The General Meeting will also include the election of the NLB Supervisory Board members

At this GM, the Shareholders will also nominate four members to the NLB Supervisory Board, as the mandate of four members, namely Deputy Chairman Andreas Klingen, Shrenik Dhirajlal Davda, Gregor Rok Kastelic, and Mark William Lane Richards, expires in 2023. The Supervisory Board proposes that two current members of the Supervisory Board, Shrenik Dhirajlal Davda and Mark William Lane Richards, as well as Cvetka Selšek and Andre-Marc Prudent-Toccanier are named as members.

The Supervisory board now also consists of Chairman Primož Karpe, David Eric Simon, and Verica Trstenjak, whose mandate expires next year, Islam Osama Zekry, whose mandate expires in 2025, and two employee representatives – Sergeja Kočar, whose mandate expires in 2024, and Tadeja Žbontar Rems, whose mandate expires a year later.

At the General Meeting, the shareholders will also take note on various reports and decide on payments to the members of the Supervisory Board and its committees. The proposed resolutions together with clarifications and other materials and instructions are available to all interested stakeholders  here.

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