Peab’s Annual General Meeting 2024

Today Peab AB (publ) held its Annual General Meeting. Anders Runevad was elected as Chairman of the Board. The Annual General Meeting adopted the income statement and balance sheet as well as decided on the disposition of company profits, election of, and remuneration to, the Board of Directors and auditor, the election of the Nomination Committee and the principles for the appointment of the Nomination Committee and instructions for it. The Annual General Meeting also authorized the Board to decide on new issues, transfers of own shares and a new long-term performance share program.

Shareholders could also exercise their voting right through postal voting in accordance with the regulations in Peab’s articles of association.

The Annual General Meeting adopted with the required majority all the proposals presented by the Board of Directors and the Nomination Committee.

Adoption of the Group balance sheets and income statements and discharge

• The Annual General Meeting adopted the company’s respective consolidated balance sheets and income statements for 2023.
• Members of the Board and the CEO were granted discharge from liability for the financial year 2023.

Decision on profit distribution

• The Annual General Meeting decided according to the Board of Directors’ proposal on a dividend of SEK 1.50 per share for the financial year.
• Wednesday, May 8, 2024 was adopted as the record date for dividend distribution. The dividend will be distributed from Euroclear Sweden AB on Tuesday, May 14, 2024.

Remuneration Policy

• The Annual General Meeting approved to proposal from the Board of Directors to make the changes in the Remuneration Policy that were presented in the summons to attend the Annual General Meeting and which have been available in their entirety on the company’s website.

Remuneration Report

• The Annual General Meeting approved the Remuneration Report 2023 drawn up by the Board.

Election of Board members and chairman

• In accordance with the proposal by the Nomination Committee the Annual General Meeting decided to reelect Magdalena Gerger, Karl-Axel Granlund, Liselott Kilaas, Kerstin Lindell, Fredrik Paulsson, Malin Persson, Lars Sköld and Anders Runevad.
• Anders Runevad was re-elected as Chairman of the Board.

Decision on remuneration to Board and committee members

• Remuneration to the Chairman of the Board of Directors was set at SEK 1,250,000 and for each of the other board members at SEK 625,000.
• For work on the Remuneration Committee and the Finance Committee it was decided that remuneration of SEK 82,500 be paid to each member of those committees.
• For work on the Audit Committee it was decided that remuneration of SEK 170,000 be paid to the chairman and SEK 82,500 be paid to each member of the committee.
• The total remuneration to Board members was set at SEK 6,537,000.

Election of auditor and compensation

• In accordance with the recommendation by the Remuneration Committee the registered accounting company EY with Jonas Svensson as principle company accountant was re-elected.
• It was also decided the accountant will be compensated according to approved invoices.

Principles for the Nomination Committee’s appointment and instructions for the Nomination Committee

• In accordance with the proposal of the Nomination Committee the Annual General Meeting decided to, among other things, change the text in points 1.1, 1.2 and 1.3 in the Principles for the Nomination Committee’s appointment and instructions for the Nomination Committee in Peab AB from “the final banking day in August” to “the final banking day in June” regarding information on ownership relations/ownership groupings as the basis for determining which shareholders have the right to appoint a member of the Nomination Committee.

Authorization to issue new B shares

• The Annual General Meeting authorized of the Board of Director to decide, on one or more occasion during the period up to the next Annual General Meeting, on a new issue of B shares corresponding at the most to a total of ten percent of the registered share capital at the moment of the authorization, with or without preferential rights for current shareholders.

Authorization to repurchase new B shares

• The Annual General Meeting authorized the Board of Directors, during the period up to the next Annual General Meeting, to decide to acquire, on Nasdaq Stockholm AB or through an acquisition offer aimed at all shareholders or holders of shares of a particular class, a maximum number of shares so that the company's holding of its own shares after the acquisition does not exceed one tenth of all shares in the company. The shares may be acquired on Nasdaq Stockholm AB at a price within the price interval registered at any given time and, in the case of acquisition through an acquisition offer, at a price equivalent to the lowest stock market price at the time of the offer with a maximum upward deviation of 30 percent. Shares may only be acquired for compensation in cash.

Authorization to divest B shares

• The Annual General Meeting authorized the Board of Directors, during the period up to the next Annual General Meeting, to decide to transfer, on Nasdaq Stockholm AB or in connection with, for example, a corporate acquisition and with or without any deviation from the shareholders' preferential rights, a maximum of all the company's own shares held by the company on Nasdaq Stockholm AB at a price within the price interval registered at any given time and, in the case of divestment by other means, at a price equivalent to the stock market price of the shares at the time of the transfer with any deviation that the Board of Directors may deem appropriate.

Performance Share Program and transfer of own shares

• The Board of Directors proposed and the Annual General Meeting also adopted Performance Share Program 2024, which is aimed at linking employee rewards closer to the company’s future profit and value development.
• The program comprises around 600 senior officers and specialists in the Group, where participants are allocated share rights that can be converted to shares under the condition that the performance targets set are achieved.
• The targets include achievement of specific earnings per share and reduced carbon dioxide emissions.
• The Annual General Meeting also approved the use of previously repurchased shares to implement the Performance Share Program.

Complete documentation

Complete documentation regarding the decisions made by the Annual General Meeting are found on Peab’s website www.peab.com/agm.

For further information, please contact:

Juha Hartomaa, Head of Investor Relations Peab, +46 72 533 31 45