41st General Meeting of NLB d.d. will be held on 11 December

October 27, 2023

NLB announces the convocation of the 41st General Meeting of Shareholders of NLB d.d., which will be held on 11 December this year, starting at 11 a.m. The meeting will be held both live (in Cankarjev dom in Ljubljana) and as an electronic general meeting, taking place via the web portal. All interested stakeholders can find the proposed resolutions with clarifications and other materials and instructions for the General Meeting here.

At the meeting, a decision will be made on the additional 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 19 December, 2023 to the persons who are registered as the Shareholders of NLB d.d. with the KDD - Central Securities Clearing Corporation, LLC., on the day that is five working days after the General Meeting that adopted this resolution (18 December 2023, Cut-Off Date).

This dividend pay-out will be the second one this year, following the pay-out of dividends in a total amount of EUR 55 million (EUR 2.75 gross per share) on June 27, 2023. Together, both pay-outs will amount to EUR 110 million from the profit generated in 2022, which is not included in the capital base, meaning that it will not affect NLB Group’s capital ratios. With these pay-outs, NLB remains firmly on the path to fulfil its ambition – a total capital return through solid cash dividends in a cumulative amount of EUR 500 million by the end of 2025, including 2022 pay-outs.

NLB Management and Supervisory Boards will also propose to shareholders that the remaining part of the distributable profit remains undistributed and represents retained earnings.

Furthermore, at the General Meeting, the NLB shareholders will also vote on the approval of the Remuneration Policy for the Members of the Supervisory Board of NLB d.d. and the Members of the Management Board of NLB d.d. (hereinafter: Remuneration Policy). The Remuneration Policy was namely revised to ensure that remuneration of the members of the Management Board is aligned with Groups’ long-term strategic goals, as well as with Shareholders’ interests and advice, relevant regulation, guidelines, and best practices. The revised Remuneration Policy envisages the use of a balanced set of performance metrics, which are defined, structured, and based on clear grid and weights, including financial results, operational efficiency, strategic milestones, and environmental, social, and governance (ESG) factors. Additionally, a long-term incentive (LTI), tied to relative Total Shareholder Return (TSR), as well as long-term targets related to sustainability, organisational culture, and employee development, are being introduced. All this aims to ensure that Management Board Members are incentivized to contribute not only to immediate financial success, but also to the Group’s overall sustainability, growth, and long-term value for shareholders.

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