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Universal Music Group Triumphs at AGM with Strategic Vision and Investor Approval

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Leo Gonzalez

May 16, 2024 - 16:55 pm

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Universal Music Group N.V. Holds Successful Annual General Meeting

HILVERSUM, The Netherlands, May 16, 2024 – Universal Music Group N.V. (UMG), the world-renowned name that resonates across the music industry, proudly announced today the successful conclusion of its Annual General Meeting of Shareholders (AGM), which took place earlier. Following thorough deliberations and voting, the company was pleased to report that all resolutions presented on the AGM agenda garnered overwhelming support, ushering in a continued era of sound governance and strategic growth.

Resounding Support Across the Agenda

Shareholders expressed their confidence in the company's direction and leadership by passing all proposed resolutions with a resounding majority. Among the key actions sanctioned at the meeting were:

The AGM ratified the 2023 remuneration report favorably, sending a strong message of approval for Universal Music Group's commitment to fair and competitive compensation practices. It underscores the importance the company places on attracting, retaining, and motivating top talent in a fast-evolving industry.

Further cementing its financial foundation, the company gained shareholder approval for the adoption of the financial statements of 2023. This reflects investors' satisfaction with the financial stewardship and transparency demonstrated by the company over the last fiscal year.

In matters of leadership, Vincent Vallejo was reappointed as Executive Director. Vallejo's reappointment signifies a vote of confidence in his proven track record of leadership and in-depth knowledge of the industry, which has been instrumental in steering the company's strategic ventures and operations.

The AGM also saw the reaffirmation of the vital role played by the Non-Executive Directors, with Bill Ackman, Cathia Lawson-Hall, Cyrille Bolloré, James Mitchell, Manning Doherty, Margaret Frerejean-Taittinger, and Nicole Avant being reappointed in their roles. The collective expertise and diverse insights of these seasoned directors have been central to UMG’s growth trajectory.

Furthermore, the pool of expertise at the helm of Universal Music Group was fortified with the appointment of two new Non-Executive Directors, Eric Sprunk and Mandy Ginsberg. Their induction into the board introduces fresh perspectives and reflects UMG's ongoing commitment to leadership dynamism and diversity.

Lastly, the shareholders gave the green light to the Non-Executive Directors’ Remuneration Policy and authorized the issuance of shares along with the granting of subscription rights for shares under the same policy. This decision supports the company's strategy to incentivally align the interests of the Non-Executive Directors with those of the shareholders and the overarching goals of the company.

Shareholder Returns and Dividends

In a move that will be welcomed by investors, the AGM approved the proposal to issue a final dividend of EUR 0.27 per share. Coupled with the interim dividend of EUR 0.24 paid in October 2023, the total dividend for the financial year 2023 elevates to EUR 0.51 per share. With a clear dividend schedule in place, investors can look forward to the following key dates:

May 20, 2024: Marks the ex-dividend date, which is the first date following the declaration of a dividend on which the buyer of a stock is not entitled to receive the next dividend payment.

May 21, 2024: Stands as the record date for the dividend, which is the date on which the company reviews its records to determine exactly who its shareholders are. An investor must be listed as a holder of record to ensure they receive the dividend.

June 11, 2024: Served as the final dividend payment date, the day when Universal Music Group will disburse the declared dividend to the shareholders officially registered on the record date.

In line with regulatory requirements and corporate transparency, detailed voting results from the AGM will be available on the Company's website within 15 days. This complies with the Dutch Financial Supervision Act, ensuring that investors have access to all necessary information to understand the outcomes and implications of the AGM.

Universal Music Group: At the Forefront of Music Innovation

Universal Music Group is not just an embodiment of a leading music company; it is a cultural force that shapes the global music landscape through its vast catalogue and artistic development. As the top-tier enterprise in music-based entertainment, UMG boasts an impressive array of business ventures in recorded music, music publishing, merchandising, and audiovisual content.

Home to the most exhaustive anthology of recordings and songs spanning every conceivable musical genre, Universal Music Group prides itself on its keen ability to scout, develop, and promote artists. The company's dedication resonates through the commercially successful and critically acclaimed music it releases, impacting listeners worldwide.

Deeply committed to the pillars of artistry, innovation, and entrepreneurship, UMG is continuously refining its suite of services, platforms, and business models. The primary objective remains to enhance the breadth of artistic and commercial prospects available to artists and curate novel experiences for fans everywhere.

For anyone interested in learning more about Universal Music Group N.V. or seeking further information about its innovative ventures across the music industry, the company invites you to explore their website at www.universalmusic.com.

The Universal Music Group logo visually represents this iconic brand and its influence in the music industry — a symbol of artistic excellence and market leadership. It echoes the company's promise to continue serving the global music community through innovation and devotion to the art form. The logo can also be accessed online through the following link: UMG Logo.

This detailed account of the Annual General Meeting and insider information about Universal Music Group encapsulates the essence of transparency and dedicated corporate governance. With its decision-making rooted in comprehensive strategies and its finish line set far beyond the horizons of musical artistry, Universal Music Group continues to soar as the music industry's champion.